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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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January 23, 2015
08:03 EDTBAMBrookfield acquires remaining 50% interest in JV with Johnson Controls for $200M
Brookfield Asset Management (BAM) announced that it has reached an agreement to acquire the other 50% of its Canadian and Australian facilities management businesses from Johnson Controls (JCI) for approximately $200M. This acquisition will facilitate a merger with its wholly owned businesses in the Middle-East and South America as part of a broader plan to create the leading global facilities management business. With the termination of its joint venture agreements with Johnson Controls, Brookfield will immediately launch its facilities management businesses in scale in the United States and Europe, building on client relationships across its 340M square feet property portfolio.

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