NEW YORK, June 19 /PRNewswire/ -- Weil, Gotshal & Manges LLP, the international law firm, advised a consortium led by Brookfield Asset Management Inc. (NYSE/TSX: BAM) ("Brookfield"), which includes Canada Pension Plan Investment Board, British Columbia Investment Management Corporation and another institutional investor, in its agreement to acquire 92% of the shares of HQI Transelec Chile S.A. ("Transelec"), the largest electricity transmission company in Chile, from Hydro-Quebec International for U.S. $1.55 billion. The consortium has taken steps to acquire the remaining 8% of Transelec in a separate, but contemporaneous transaction. Transelec's assets serve as the backbone of the Chilean electricity sector. Transelec owns over 8,000 kilometres of transmission lines and 51 power substations, and its assets deliver electricity to approximately 99% of the Chilean population through various local distribution companies. The closing of the transaction is scheduled for July 5, 2006 with completion of the transaction subject to customary conditions. There are no regulatory approvals required to proceed with the transaction. Brookfield is a 100 year old Canadian company focused on power, real estate and other infrastructure assets. Brookfield has approximately $50 billion of assets under management located in Canada, U.S., South America and Europe. Brookfield is co-listed on the New York and Toronto stock exchanges under the symbol BAM. [bcIMC is an investment management corporation based in Victoria, BC. With over $76 billion in assets under administration with a global exposure, and supported by industry-leading investment expertise, bcIMC offers fund management services for all major assets classes, including currency and infrastructure investment. bcIMC's clients include pension plans, provincial government operating and sinking funds, public trusts and insurance funds. Canada Pension Plan Investment Board invests the funds not needed by the Canada Pension Plan to pay current benefits. In order to build a diversified portfolio of CPP assets, the CPP Investment Board is currently investing cash flows in publicly traded stocks, private equities, real estate, inflation linked bonds and infrastructure to balance the legacy government bond portfolio. Based in Toronto, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At fiscal year end, the CPP fund totaled C$98 billion, including C$4.7 billion in private equity and infrastructure investments.] Weil, Gotshal & Manges LLP's Team Partners: S. Wade Angus, Simeon Gold, J. Philip Rosen, Elaine Stangland Associates: Nicholas Rodriguez, Mona Al-Sharmani, Alfredo Simon, Jr. About Weil, Gotshal & Manges Weil, Gotshal & Manges LLP is an international law firm of over 1,200 lawyers, including approximately 300 partners. Weil Gotshal is headquartered in New York, with offices in Austin, Boston, Brussels, Budapest, Dallas, Frankfurt, Houston, London, Miami, Munich, Paris, Prague, Providence, Shanghai, Silicon Valley, Singapore, Warsaw, Washington DC and Wilmington. DATASOURCE: Weil, Gotshal & Manges LLP CONTACT: Sergio H. Morales of Rubenstein Associates for Weil, Gotshal & Manges LLP, +1-212-843-8078, Web site: http://www.weil.com/

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