Status:  Undetermined


Digital FinancesAcquirer:   Brookfield Asset Management Inc. (Canada)

Acquired:  American Equity Investment Life Holding Company (US)

Value:  US$675 million

Industry Tags:  Financial Services; Insurance

On October 17, 2020, Brookfield Asset Management Inc., a publicly traded (NYSE: BAM; TSX: BAM.A) corporation organized under the laws of Canada, and its subsidiary Burgundy Acquisitions I Ltd., a limited company organized under the laws of Bermuda, entered into an Investment Agreement with American Equity Investment Life Holding Company, a publicly traded (NYSE:AEL) Iowa corporation specializing in the sale of fixed index and fixed rate annuities, relating to the issuance and sale of shares of American Equity Investment Life Holding Company common stock in two tranches: the initial closing is equal to 9.9% of the issued and outstanding shares, and the subsequent closing will result in a holding of “up to 19.9% . . . but no less than 15.0%” of issued and outstanding shares. (American Equity Investment Life Holding Company Form 8-K, Oct. 19, 2020, SEC Filing.)  CFIUS Approval is required for the subsequent closing. (Section 4.1(e), Investment Agreement, American Equity Investment Life Holding Company Form 8-K, Ex-10.1, Oct. 19, 2020, SEC Filing.)  The initial closing closed on November 30, 2020.  (American Equity Investment Life Holding Company Form 8-K, Ex-99.1, Nov. 30, 2020.)


Please contact us with any questions.