Brookfield to acquire a 50% stake in Intellihub from Pacific Equity Partners and Landis+Gyr for AUD1bn.

Brookfield, an investment management company, agreed to acquire a 50% stake in Intellihub, an Australian and New Zealand based utility services company, from Pacific Equity Partners, an Australasian private equity investment firm, and Landis+Gyr, a publicly listed, multinational corporation, for AUD1bn. "The investment in Intellihub has been a great success for Landis+Gyr and we believe that Brookfield’s investment in Intellihub comes at an appropriate time in the energy transition that Australasia is undergoing. While we look forward to continuing to partner with Intellihub as a customer in the future, we are focusing our efforts on the expansion of our position in smart infrastructure, grid edge intelligence and smart metering solutions and services. The proceeds of the sale will be reinvested in both organic and inorganic strategic growth areas to drive the decarbonization of the grid and empower utilities and consumers around the world to manage energy better," Werner Lieberherr, Landis+Gyr CEO.