Brookfield Completes Acquisition of Rouse Properties, Inc.
July 06 2016 - 9:56AM
Business Wire
Rouse Properties, Inc. (NYSE:RSE) (the “Company”) announced
today the completion by BSREP II Retail Pooling LLC (“Parent”), an
affiliate of Brookfield Asset Management, Inc. (“Brookfield”), of
its acquisition of the Company pursuant to the previously announced
merger agreement under which BSREP II Retail Holdings Corp., an
entity controlled by Parent, merged with and into the Company.
Under the terms of the merger agreement, the Company’s
shareholders, excluding Brookfield and its affiliates will receive
$18.25 per share in cash.
Also, in connection with the merger, on July 5, 2016, the
Company and the stockholders of the Company that are affiliated
with Brookfield completed the previously announced exchange whereby
the Company exchanged the Company common stock held by Brookfield
and its affiliates prior to the merger, representing approximately
33.5% of the outstanding shares of the Company, into shares of
Series I Preferred Stock of the Company, par value $0.01 per share,
pursuant to the Series I Preferred Stock Exchange Agreement dated
February 25, 2016.
The Company’s common stock will be delisted from the New York
Stock Exchange.
BofA Merrill Lynch acted as financial advisor to the special
committee of the Company’s Board of Directors, and Sidley Austin
LLP acted as the special committee’s legal advisor. Weil, Gotshal
& Manges LLP acted as legal advisor to Brookfield.
About Rouse Properties, Inc.
Rouse Properties, Inc. owns and manages 35 regional malls and
retail centers in 21 states encompassing approximately
23.8 million square feet. For more information please visit:
www.rouseproperties.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160706005975/en/
Media:Joele Frank, Wilkinson Brimmer KatcherJonathan
Keehner / Andrew Siegel / Meaghan
Repko212-355-4449orInvestors:Rouse Investor
Relations212-608-5108IR@rouseproperties.com
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