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BPY - Brookfield Property Partners LP News Story

$18 0.1  0.5%

Last Trade - 07/05/21

Sector
Financials
Size
Large Cap
Market Cap £12.07bn
Enterprise Value £72.32bn
Revenue £4.75bn
Position in Universe 679th / 6854

UPDATE 1-Brookfield Asset to buy remaining stake in real estate unit for $6.5 bln

Thu 1st April, 2021 12:16pm
(Adds deal value, background)
    April 1 (Reuters) - Canada's Brookfield Asset Management Inc
 BAMa.To   BAM.N  would buy the remaining stake it does not
already own in its commercial real estate business Brookfield
Property Partners  BPY.O  for about $6.5 billion, the companies
said on Thursday.
    The deal was a raise from the $5.9 billion the
alternative-asset manager offered in January this year.
 urn:newsml:reuters.com:*:nL4N2JF2NN
    The COVID-19 pandemic has driven a shift to remote working
and kept people away from malls and shopping centres, hurting
real estate companies such as Brookfield Property.
    Unitholders of Brookfield Property will get $18.17 per unit,
 a premium of 26% to stock's last close on Dec. 31, before the
announcement was made.
    

 (Reporting by Niket Nishant in Bengaluru; Editing by Shinjini
Ganguli)
 ((Niket.Nishant@thomsonreuters.com;))
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