August 13, 2019 / 10:57 PM / a month ago

Australia's Aveo Group signs takeover deal with Canada's Brookfield

(Reuters) - Australia’s Aveo Group (AOG.AX) on Wednesday said it had signed a deal with units of Brookfield Asset Management (BAMa.TO) under which the Canadian firm will buy the Australian retirement home operator for A$1.27 billion.

The offer values Aveo at A$2.195 per share, which the company had disclosed earlier this month.

Aveo’s board unanimously recommends the offer, the company said in a statement.

Reporting by Shreya Mariam Job in Bengaluru; Editing by Sandra Maler

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