Brookfield Infrastructure Partners L.P.'s Most Brilliant Moves in 2017 So Far
Last year was an active one for Brookfield Infrastructure Partners (NYSE: BIP). The global infrastructure giant invested more than $2.8 billion in a combination of acquisitions and organic growth projects, which drove 14% growth in its funds from operations (FFO), enabling the company to increase its distribution to investors by 11%. While the company hasn't been quite as busy in 2017, it has still made some brilliant moves that will help it deliver high-end growth in the coming years.
One of the best moves Brookfield Infrastructure Partners made last year was leading a consortium to acquire a 90% stake in a natural gas transmission business in Brazil from oil giant Petrobras (NYSE: PBR). The draw is the fact that the system generates stable and growing cash flow since Petrobras locked up 100% of the volumes under long-term ship-or-pay contracts with customers that also came with full inflation indexation. It's an asset that likely wouldn't have been available at the price Brookfield paid if it wasn't for Petrobras' financial troubles and Brazil's economic and political woes.
Image source: Getty Images.
Source: Fool.com
