Brookfield to take real estate division private for $5.9 billion

Brookfield Asset Management is paying $5.9 billion to buy the remaining units of its real estate division that it doesn’t already own and take it private.

Brookfield Property Partners unitholders can choose $16.50 in cash per unit, 0.40 Brookfield Class A shares, or 0.66 of Brookfield Property preferred units with a liquidation preference of $25.00 per unit.

Brookfield Asset Management, which is based in Canada, has approximately $575 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit.

Brookfield Asset Management is a leading global alternative asset manager with approximately US$550 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy.

Utilizing its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

Source: abc News

Can’t stop reading? Read more