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Brookfield Infrastructure registers securities in Canadian corporation deal

Brookfield Infrastructure Partners LP filed registration statements in connection with the planned creation of Brookfield Infrastructure Corp., a new Canadian corporation through a transaction similar to a unit split.

The partnership registered 43 million of its non-voting limited partnership units with a proposed maximum aggregate price of about $2.21 billion under a registration statement on F-3.

The units may be issued by the partnership or be delivered by Brookfield Asset Management Inc. to satisfy any exchange, redemption or purchase of class A subordinate voting shares of Brookfield Infrastructure Corp., or BIPC.

Separately, the companies filed an amended registration statement on F-1 for an aggregate of 47 million class A subordinate voting shares of BIPC, with a proposed maximum aggregate price of about $1.97 billion.

The securities comprise approximately 33 million class A shares that will be distributed to the unit holders of Brookfield Infrastructure Partners and an additional approximate 14 million class A shares to be issued to Brookfield Asset Management and its subsidiaries.

It also covers the issuance of 47 million units of Brookfield Infrastructure Partners and the delivery of a same number of units by Brookfield Asset Management upon exchange, redemption or purchase of class A shares following the special distribution.

The new securities will be listed on both New York Stock Exchange and Toronto Stock Exchange after the special distribution is completed in the first half of 2020.