Brookfield Infrastructure Goes Bargain Hunting
Brookfield Infrastructure (NYSE: BIP)(NYSE: BIPC) made a bold bet during last year's market meltdown on an eventual recovery by purchasing more than $600 million of shares in beaten-down publicly traded infrastructure companies. That wager has already paid off. Brookfield has since cashed in on some of those investments, pocketing a hefty $60 million profit.
However, it has retained a stake in some of those companies hoping that at least one would lead to a larger transaction. We now know the identity of one of those targets: Canadian midstream operator Inter Pipeline (TSX: IPL). That's after Brookfield publicly revealed that it has offered to take Inter Pipeline private. Here's why it sees value in the beaten-down energy infrastructure company.
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Source Fool.com
