(b)-(c), (f) The principal business of Eagle Canada and BIF IV Eagle is investing in securities, including the Common Shares. The principal business of BIF IV LTIP is to serve as the general partner of BIF IV Eagle and certain of its affiliates. The principal business of BIF IV Cdn is to serve as the general partner of Eagle Canada and BIF IV LTIP. The principal business of BIF IV Cdn GP is to serve as the general partner of BIF IV Cdn. The principal business of BIF IV Cdn GP Ltd is to serve as the general partner of BIF IV Cdn GP. The principal business of BIG Holdings is that of a holding company. The principal business of BIGL is to serve as the general partner of BIG Holdings. The principal business of BIG LP is that of a holding company. The principal business of BAM Limited is to serve as the general partner of BIG LP. The principal business of Brookfield is to invest in and operate businesses in the real estate, power generation, infrastructure and private equity sectors. The principal business of Partners is that of a holding company. The principal business address of the Reporting Persons is 181 Bay Street, Suite 300, Brookfield Place, Toronto, Ontario M5J 2T3, Canada.
Schedules I, II, III, IV and V hereto set forth a list of all the directors and executive officers (the “Scheduled Persons”), and their respective principal occupations and addresses, of BIF IV Cdn GP Ltd., BIGL, BAM Limited, Brookfield and Partners, respectively.
(d)-(e) During the last five years, none of Reporting Persons and, to their respective knowledge, none of the Scheduled Persons, has been: (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which, he, she or it was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3. | Source and Amount of Funds or Other Consideration. |
The information set forth in Items 5 and 6 of this Schedule 13D is hereby incorporated by reference into this Item 3.
The 24,021,508 Common Shares reported to be owned by Eagle Canada and BIF IV Eagle were acquired in the open market for an aggregate consideration of C$229,718,658 (including brokerage commission but excluding director compensation shares) or received through grants of Common Shares awarded as director compensation to the Reporting Persons’ director nominees currently serving on the Issuer’s board of directors in accordance with the terms of the Investment Agreement (as defined in Item 6 below). All purchases of Common Shares in open market transactions were funded from available liquidity.
Item 4. | Purpose of Transaction. |
The information set forth in Items 3 and 6 of this Schedule 13D is hereby incorporated by reference into this Item 4.
The Reporting Persons believe that the Issuer’s equity represents an attractive investment opportunity and have acquired Common Shares of the Issuer; the Investor (as defined in Item 6 below) has also entered into the Investment Agreement.
The Reporting Persons will continuously review their investment with respect to the Issuer and, depending on various factors, including the price of the Common Shares; terms and conditions applicable to any potential transaction, including the terms and conditions of the Investment Agreement and the limitations provided for therein; the Issuer’s financial condition, business, operations and prospects; the liquidity and diversification objectives of the Reporting Persons; and such other factors that the Reporting Persons deem relevant at any time or from time to time, may increase their economic exposure to the Issuer; acquire other Common Shares of the Issuer or other securities of the Issuer, including securities convertible or exchangeable for the Common Shares of the Issuer from time to time on the open market, in privately negotiated transactions, directly from the Issuer or by other means (including, without limitation, extraordinary corporate transactions such as a merger or tender offer) and may make public or private proposals relating to the acquisition of all or a portion of the outstanding equity of the Issuer that the Reporting Persons do not beneficially own, subject in all cases to the terms of the Investment Agreement and required regulatory approvals, if any, and compliance with applicable laws.
Although the Reporting Persons have no specific plan or proposal to dispose of the Common Shares, the Reporting Persons also may, at any time and from time to time, subject to compliance at all relevant times with the Investment Agreement, Margin Loan Agreement (as defined in Item 6 below) and regulatory requirements and applicable securities laws, terminate in whole or in part, dispose of or distribute some or all of their Common Shares or such other securities they own or may subsequently acquire, depending on various factors, including the price of the Common Shares; terms and conditions applicable to any potential transaction; liquidity and diversification objectives of the Reporting Persons; the matters set forth in the preceding sentence; and such other factors that the Reporting Persons deem relevant at any time or from time to time.