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Stock Market & Financial Investment News

News Breaks
July 1, 2014
16:19 EDTBBXBBX Capital division enters into joint venture agreement with affiliate of Proca
BBX Capital Real Estate, a division of BBX Capital announced it has entered into a joint venture agreement with an affiliate of Procacci Development Corporation. The joint venture has acquired three acres of real estate located at Bayview Drive and Sunrise Boulevard in Fort Lauderdale, Florida. The property is currently improved with an approximate 84,000 square foot office building along with a 7-11 retail store and gas station. The new joint venture entity, Sunrise and Bayview Partners acquired the above described property for approximately $8.0M. The property is a 50% - 50% joint venture between BBX Capital Real Estate and an affiliate of Procacci Development.
News For BBX From The Last 14 Days
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March 17, 2015
16:45 EDTBBXBBX Capital shareholder BFC intends to make tender offer for 4.8M shares
The special committee of independent directors of the board of directors of BBX Capital Corporation announced that it has been informed that its majority shareholder, BFC Financial Corporation , intends to make a tender offer to acquire up to 4,771,221 shares of the Class A common stock (including the associated preferred share purchase rights) of BBX Capital not otherwise owned by BFC at a price of $20.00 in cash per share. Presently, BFC owns approximately 51% of the outstanding shares of BBX Capital's Class A common stock. The board of directors of BBX Capital has determined that each member of the Special Committee is an independent director for purposes of considering the tender offer. The Special Committee expects to retain a financial advisor and has retained Hogan Lovells US LLP as its legal advisor.

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