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Stock Market & Financial Investment News

News Breaks
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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March 19, 2015
09:55 EDTBAMBrookfield 'strong contender' in Crown Castle telecom auction, Australian says
The auction for Crown Castle's (CCI) Australian telecom tower business saw multiple companies submitting indicative bids this week, reported The Australian yesterday. Brookfield (BAM) is "one of the strongest contenders" partly due to its desire for investment in the sector, notes The Australian, adding that the company is said to have pulled in one or two partners for its Crown Castle bid. Macquarie Group's (MQBKY) Infrastructure and Real Assets has also expressed interest. Reference Link

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