Brookfield offers to take real estate arm private in $5.9 billion deal

FILE PHOTO: People walk to Brookfield Place off Bay Street on the day of the annual general meeting for Brookfield Asset Management shareholders in Toronto, May 7, 2014. REUTERS/Mark Blinch (CANADA – Tags: BUSINESS)

(Reuters) – Canada’s Brookfield Asset Management Inc said on Monday it has offered to take its commercial real estate arm Brookfield Property Partners LP private in a $5.9 billion deal.

Brookfield Asset Management said it would offer $16.50 per for each Brookfield Property shares it does not already own.

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