Under the deal, unitholders have a choice of US$18.17 in cash, 0.4006 of a Brookfield Asset Management class-A limited voting share or 0.7268 of a BPY preferred unit, with limits for each category.
Brookfield Property REIT Inc. says it is redeeming all of its outstanding 6.375% Series A cumulative redeemable preferred stock on Aug. 19 for $25 per share cash, plus all accumulated and unpaid dividends for total proceeds of more than $25.21.
The agreement was overwhelmingly approved on July 16 by Brookfield Property Partners minority unitholders.
Brookfield Property Partners owns or operates a wide variety of properties. including office buildings, shopping malls and other properties across the world.
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