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News Breaks
March 20, 2014
08:18 EDTBPO, BPYBrookfield Property says Offerors have taken up 203.6M shares of BPO
Brookfield Property Partners (BPY) and its indirect subsidiaries Brookfield Office Properties Exchange and Brookfield Property Split Corp., collectively with Brookfield Property Partners, the "Offerors", announced that the Offerors have taken up 203,597,640 common shares of Brookfield Office Properties Inc. (BPO) pursuant to their offer to acquire the common shares of BPO for consideration per BPO common share of either 1 limited partnership unit of Brookfield Property Partners or $20.34 in cash, subject in each case to pro-ration based on a maximum number of BPY limited partnership units and maximum cash consideration equating to 67% and 33%, respectively, of the total number of BPO common shares subject to the Offer. Ric Clark, CEO of Brookfield Property Group stated, "Brookfield Property Partners received over 200M shares under its Offer and will take up and pay for those shares. Based on the tender results, BPY will be able to ensure a majority of the minority vote at a shareholders meeting."
News For BPY;BPO From The Last 14 Days
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December 4, 2014
10:43 EDTBPYBrookfield Property issues $1.8B of preferred equity to QIA for 9% stake
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10:39 EDTBPYBrookfield Property, QIA offer to acquire Songbird Estates
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10:37 EDTBPYQatar Investment takes 9.% stake in Brookfield Property
Brookfield Property Partners announced that its subsidiary Brookfield Property L.P. has issued $1.8B of exchangeable preferred equity securities to Qatar Investment Authority. As a result of the issuance, QIA will own an approximate 9% interest in BPY on an as-exchanged basis. QIA said, "We are making this strategic investment in Brookfield Property Partners as part of our investment plan to diversify globally in the real estate sector. This transaction takes our existing institutional relationship with Brookfield Asset Management to the next level, establishing a global platform for us to ęcontinue our collaboration with Brookfield."
10:31 EDTBPYBrookfield Property trading halted, pending news
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