Penny co-owner could go private

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Reuters

Brookfield Asset administration has made a suggestion valued at $5.9 billion to take Brookfield Property companions deepest by way of buying any shares in the company that it doesn’t already manage. Brookfield Property owns shops and different commercial residences. It also has equity stakes in J.C. Penney and other retail chains that are tenants in its facilities. “The privatization will allow us to have stronger flexibility in working the portfolio and realizing the intrinsic price of BPY’s tremendous property,” Brookfield Asset administration CFO Nick Goodman mentioned in a statement.

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