10:54 AM EDT, 06/26/2025 (MT Newswires) -- (Updates with Brookfield Asset Management's ( BAM ) confirmation in the first and second paragraphs.)

Brookfield Asset Management ( BAM ) said Thursday it has agreed to sell its Australian retirement living platform Aveo for 3.85 billion Australian dollars ($2.52 billion) to The Living Company.

Brookfield said it acquired Aveo in 2019 and had invested more than AU$500 million in the business.

The deal is anticipated to be completed in Q3, Reuters reported.

The Living did not respond to MT Newswires' request for comment.

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