Brookfield to establish global facilities management business

Fri Jan 23, 2015 8:37am EST
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TORONTO Jan 23 (Reuters) - Brookfield Asset Management Inc said on Friday it has reached an agreement to acquire the 50 percent interest of its Canadian and Australian facilities management businesses that it does not already own from Johnson Controls Inc for about $200 million.

The firm, which manages over $200 billion in assets, said the move is part of a broader plan to create a global facilities management business.

With the termination of its joint venture agreements with Johnson Controls, Brookfield plans to immediately launch its facilities management businesses in scale in the United States and Europe.

(Reporting by Euan Rocha)