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April 13, 2013
12:54 EDTBAM, BPOBrookfield Investments acquires stake in BPY spin-off
Brookfield Investments Corporation announced the acquisition of a 10.6% interest in Brookfield Property Partners, BPY, a newly created company to be spun-off from Brookfield Asset Management (BAM) on April 15. As consideration for the transaction, the company sold its 11% common share interest in Brookfield Office Properties (BPO), as well as the company's portfolio of preferred shares of Brookfield Office Properties. In addition, the company's 36% limited partnership interest in Brookfield Europe sold its interest in Canary Wharf Group, as well as certain other European assets, to BPY and received as consideration an indirect 8.9% economic interest in BPY's business. The result of transactions is that the company will now hold a 13.8% indirect interest in BPY's businesses. Upon its spin-off, BPY will be Brookfield's commercial property company and the primary entity through which Brookfield will carry on its commercial property operations. BPY is expected to begin trading on the NYSE and the TSX on April 15, under the symbols "BPY" and "BPY.UN" respectively.
News For BPO;BAM From The Last 14 Days
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February 1, 2016
18:22 EDTBAMBrookfield pulls bid for Invepar stake, Reuters says
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January 28, 2016
15:50 EDTBAMBrookfield considering 'go-private' bid for General Growth, Reuters reports
Brookfield Asset Management (BAM), which already owns around 34% of General Growth Properties (GGP), has approached potential investment partners to discuss possibly taking the mall operator private, Reuters reported, citing people familiar with the matter. General Growth spiked as high as $29 per share immediately following the initial release of Reuters' report, but the stock has given up much of those gains to be up fractionally to $27.29 in late afternoon trading. Reference Link
15:28 EDTBAMGeneral Growth calls active on Brookfield said to explore acquisition
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15:22 EDTBAMGeneral Growth halted after 4.3% jump as Brookfield said to consider acquisition
15:20 EDTBAMBrookfield exploring acquisition of General Growth Properties, Reuters reports

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