Brookfield wants to buy mall-owner GGP for $14.8 billion

  • Brookfield Asset Management said Monday that it proposed to buy mall owner GGP Inc. for $14.8 billion. 
  • Brookfield currently owns about 34% of GGP and wants to buy the rest of the company for $23 a share. 
  • The Canadian asset manager would gain GGP’s class A retail properties in urban centers at a time when foot traffic is declining because more people are shopping online. 
  • GGP has a special committee that’s looking into the proposal with Goldman Sachs as its financial advisor.

Brookfield Asset Management has proposed to buy the mall owner GGP for $14.8 billion to expand its real estate footprint. 

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