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News Breaks
April 13, 2013
12:54 EDTBPO, BAMBrookfield 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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April 22, 2015
09:17 EDTBAMBrookfield agrees to acquire Associated Estates for $28.75 per share in cash
Associated Estates (AEC) announced its board has unanimously approved a definitive merger agreement under which a real estate fund managed by Brookfield Asset Management (BAM) will acquire all outstanding shares of common stock of Associated Estates for $28.75 per share in cash. The transaction is valued at approximately $2.5B including the assumption of debt. Completion of the transaction is contingent upon customary closing conditions. The company will convene a special meeting to seek the approval of Associated Estates shareholders, and the annual meeting previously scheduled for May 22, 2015 has been postponed indefinitely. The transaction is not contingent on receipt of financing by Brookfield. Closing is expected to occur in the second half of 2015. Associated Estates intends to pay the previously announced common stock dividend of 21c per share on May 1, 2015 to shareholders of record as of April 15, 2015. The Company does not expect to pay additional dividends prior to the closing of the merger.
April 21, 2015
07:51 EDTBAMBlackstone, Brookfield bid for A$9B of office properties, Globe and Mail says
Investa Property Group, Australia’s third-biggest owner of city center offices, is seeing interest from Blackstone (BX) and Brookfield Asset Management (BAM), as well as LaSalle Investment Management and China’s Fosun, for the A$9B portfolio of Australian office properties that Morgan Stanley (MS) is marketing on the company's behalf, said Bloomberg, citing people with knowledge of the matter. Reference Link
April 20, 2015
18:52 EDTBAMBrookfield 17.9M share Spot Secondary priced at $56.00
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16:41 EDTBAMBrookfield files to sell 17.9M Class A Limited Voting shares
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April 16, 2015
19:14 EDTBAMGas Natural, Brookfield, Generco express interest in Isagen, Reuters says
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April 15, 2015
11:37 EDTBAMBrookfield files $5B mixed securities shelf
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