RTTNews | Jan 4, 2021 07:33AM EST

07:33 Monday, January 4, 2021 (RTTNews.com) - Brookfield Asset Management Inc. (BAM) with institutional partners has made a proposal to Brookfield Property Partners L.P. (BPY) to acquire all of the limited partnership units of BPY that it does not already own at a value of $16.50 per BPY unit, or $5.9 billion in total value. BPY unitholders would have the ability to elect to receive, per BPY unit, $16.50 in cash, 0.40 Brookfield class A shares, or 0.66 of BPY preferred units with a liquidation preference of $25.00 per unit.

Brookfield has presented its proposal to the board of directors of the general partner of Brookfield Property Partners and has asked the board to begin a process to review the proposal and appoint a special committee of independent directors to commission an independent valuation of the BPY units.

Brookfield said it will ensure that holders of the class A stock of Brookfield Property REIT Inc. (BPYU) will be entitled to receive the same per share consideration.

Read the original article on RTTNews ( https://www.rttnews.com/3157304/brookfield-asset-management-partners-propose-to-acquire-brookfield-property-partners.aspx)

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