American Equity acquisition set to close Thursday
The acquisition of West Des Moines-based American Equity Investment Life Holding Co. by Brookfield Reinsurance is expected to close on Thursday, the companies announced. The acquisition, valued at $4.3 billion, was announced in July 2023. Brookfield Reinsurance is the reinsurance arm of the Canadian investment firm Brookfield Asset Management, which already owns a 20% stake in American Equity. It will buy all the shares it does not own for $55 per share. In a letter to American Equity’s board last year, Brookfield Reinsurance CEO Sachin Shah wrote he would maintain the company’s presence in West Des Moines.
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