Brookfield Residential to Go Private
|Areas||Banking and Finance Law, Commercial Real Estate, Corporate and Commercial, Corporate Finance and Securities, Litigation, Private Equity, Tax|
Goodmans represents Brookfield Residential Properties Inc. (BRP: NYSE/TSX) in connection with its proposed acquisition by Brookfield Asset Management Inc. (NYSE: BAM) (TSX: BAM.A) (Euronext: BAMA) in a going private transaction. Brookfield Residential and Brookfield Asset Management have entered into a definitive arrangement agreement pursuant to which Brookfield Asset Management will acquire all of the issued and outstanding common shares of Brookfield Residential that Brookfield Asset Management and its affiliates did not already own by way of a court-approved plan of arrangement. Under the terms of the arrangement agreement, shareholders of Brookfield Residential will receive US$24.25 in cash per common share. The transaction provides total consideration to minority shareholders of Brookfield Residential of approximately US$871 million.