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Brookfield's Offer to Brookfield Property Partners

Brookfield Asset Management’s offer to acquire the stock of its subsidiary commercial real estate arm comes at a time when vaccines are spread globally. The asset management company, headquartered in Toronto, will pay $16.50 per share. In this line, Brookfield Property announced in a press release that it has formed a committee to examine the offer. Nicholas Goodman, Managing Partner and Chief Financial Officer of Brookfield Asset Management, in his declaration said privatization will help us manage the portfolio and appreciate the real value of BPY’s assets. With assets, nearly $88 billion, Brookfield Property has been affected by the pandemic; as a result, some assets’ value sharply declined. Its assets involve malls, buildings, and other properties. Brookfield Property’s retail arm had to reduce its workforce (some 20%) in September 2020. Once among the greatest mall owners, it is now looking forward to lenders. Samira H.
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By Samira Hassanzadeh on October 19, 2021

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