Brookfield Reinsurance Offers Share Exchange to Brookfield Corp Holders

By Adriano Marchese

Brookfield Reinsurance is soliciting holders of its class A limited voting shares of Brookfield Corp. to exchange their shares for newly issued Brookfield Reinsurance shares on a one-to-one basis.

"This offer enables us to bolster the equity base and market capitalization of Brookfield Reinsurance without diluting either company," Brookfield Reinsurance Chief Executive Sachin Shah said.

Brookfield Reinsurance is considered a paired entity to Brookfield Corp., and the exchange has a scope of up to 40 million shares of Brookfield Corp. shares.

The company said it believes that "exchanges under the offer by holders whose personal circumstances favor investing in the paired entity through the ownership of Brookfield Reinsurance Shares will be beneficial to overall Brookfield."

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

August 18, 2023 09:24 ET (13:24 GMT)

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