American Equity Announces Closing of Initial 9.9% Equity Investment From Brookfield Asset Management and Expands Execution of Share Repurchase With New Accelerated Share Repurchase Program
American Equity Announces Closing of Initial 9.9% Equity Investment From Brookfield Asset Management and Expands Execution of Share Repurchase With New Accelerated Share Repurchase Program
12/01/20, 1:59 AM
Location
west des moinesAmerican Equity Investment Life Holding Company (NYSE: AEL) announced today that following Hart-Scott-Rodino approval, it has closed an initial equity investment of 9,106,042 shares at $37.00 per share from Brookfield Asset Management Inc. as part of a previously announced strategic partnership. With this investment and the accelerated share repurchase and other share repurchases described below, Brookfield owns an approximate 9.9% equity interest in American Equity and is entitled to one seat on the company’s Board of Directors. Sachin Shah, Managing Partner and Chief Investment Officer of Brookfield, has joined American Equity’s Board of Directors, which expanded the size of the Board to 14 members.
Company Info
Location
west des moines, iowa, united states
Additional Info
American Equity Investment Life Holding Company, through its wholly-owned subsidiaries, is a leading issuer of fixed index annuities through independent agents, banks and broker-dealers. American Equity Investment Life Holding Company, a New York Stock Exchange listed company (NYSE: AEL), is headquartered in West Des Moines, Iowa. For more information, please visit www.american-equity.com.