Brookfield offers to buy rest of mall owner GGP for $14.8 bln: Reuters
Canadian real estate investment firm Brookfield Property Partners LP this week made an unsolicited bid to buy the 66 percent stake in Chicago-based mall owner GGP Inc it does not own for US$14.8 billion in cash and stock, Reuters reported. With about 127 properties, mostly in the United States, GGP’s tenants include carmaker Tesla, jeweler Tiffany & Co and retailer Macy’s Inc. The deal is expected to create a company with an ownership interest in almost US$100 billion real estate assets globally and annual net operating income of about US$5 billion, Brookfield said. GGP shareholders will own about 30 percent of the combined company.
13 November 2017•2 mins read
