Multiplex Group announces name change

One of the biggest names to emerge from WA is set to take a backseat in Australia's construction landscape, with former Perth giant Multiplex Group taking the name of its new owner Brookfield Asset Management Inc to become Brookfield Multiplex Ltd.

Most Muliplex subsidiary companies within the group will be rebranded with the new name, while the company's premium residential brand, Multiplex Living, will remain the same.

The new branding follows the de-listing of Multiplex from the Australian stock exchange in December last year after it accepted a $4.2 billion takeover offer from Brookfield, a Canadian private equity player.

Brookfield Multiplex chief executive Ross McDiven said the new name was consistent with the organisation's strategic focus to combine the rich heritage and established strength of the Multiplex brand in Australasia with the rapidly growing global presence of Brookfield Asset Management.

"By combining Multiplex's successful integrated property model with Brookfield's expertise in long term asset management, Brookfield Multiplex is well positioned to strengthen its standing as one of Australasia's leading diversified property organisations and in its aim to be a leading infrastructure organisation."

Founded in Perth in 1962 by the late John Roberts, Multiplex listed in December 2003 and has grown to become a global construction, property development and fund management company.

Brookfield manages $83 billion in property, power and timber assets in Europe and North America.