Brookfield Infrastructure Partners has reached an agreement to acquire New York-based Triton International in a deal with an enterprise value of US$13.3 billion.
Through this transaction, Brookfield Infrastructure gains a platform for growth in the transportation and logistics sector, along with strong downside protection and a high cash yield at the outset. Additionally, Triton shareholders have the chance to profit from possessing a globally diversified portfolio of infrastructure assets within a platform that has a track record of creating long-term value for its shareholders. The transaction is expected to close in the Q4 of 2023, subject to customary closing conditions, including approval by Triton’s shareholders and receipt of required regulatory approvals.
Triton has appointed Goldman Sachs & Co. LLC as its exclusive financial advisor, while Sullivan & Cromwell LLP is serving as its legal advisor. BofA Securities and Mizuho Securities USA LLC have been appointed as Brookfield Infrastructure's joint financial advisors, while Skadden, Arps, Slate, Meagher & Flom LLP is its legal advisor. Additionally, Brookfield Infrastructure Corporation has engaged Torys LLP as its legal counsel and was advised by MUFG.