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Brookfield Property Partners LP Nyse

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Brookfield Property Partners : Songbird Estates says worth 2.82 billion pounds, more than takeover offer

November 28, 2014 at 03:50 am EST

LONDON (Reuters) - Songbird Estates, the majority owner of London's Canary Wharf, said an upturn in property markets means it is now worth 2.82 billion pounds, more than the takeover offer from Qatar Investment Authority (QIA) and Brookfield Property Partners.

The company, in which QIA already has a 28.6 percent stake, rejected an initial approach on Nov. 7 from QIA and Brookfield that valued the business at 2.18 billion pounds, or 295 pence per share, saying it undervalued the group.

Improvement in the London property investment market and developments in its Canary Wharf Estate had helped Songbird's adjusted net asset value (NAV) to rise by 19.2 percent since June 30 to 381 pence a share at Nov. 27, it said on Friday.

Songbird added that it has held discussions with QIA and Brookfield Property Partners on a takeover but has received no further proposals.

(Reporting by Freya Berry; Editing by David Goodman)

Stocks treated in this article : Songbird Estates plc, Brookfield Property Partners LP

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	BROOKFIELD CORPORATION	55.13 CAD	+1.57%	+3.03%	61.06B
	CANARY WHARF GROUP INVESTMENT HOLDGS PLC	- GBX	-.--%	-.--%	0

Latest news about Brookfield Property Partners LP

Express Receives Letter of Intent from Consortium Led by WHP Global for Sale of Business	Apr. 22	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Full Year Ended December 31, 2023	Mar. 01	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	Nov. 13	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-08-11	CI
Brookfield Property Partners L.P. acquired Multifamily asset in the United States for $157 million.	23-08-10	CI
An unknown buyer acquired an unknown stake in Three office assets in Canada for approximately CAD 400 million.	23-08-10	CI
Brookfield Property Partners L.P. Reports Earnings Results for the First Quarter Ended March 31, 2023	23-05-05	CI
Brookfield Property Partners L.P. acquired Five Logistics Assets In The United States for approximately $400 million.	23-05-04	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Full Year Ended December 31, 2022	23-02-24	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022	22-11-04	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022	22-08-05	CI
Brookfield Property Partners L.P. Reports Earnings Results for the First Quarter Ended March 31, 2022	22-05-06	CI
Brookfield Reportedly May Put Center Parcs UK on the Block	22-04-25	CI
Blackstone Inc. (NYSE:BX) and Starwood Capital Operations, LLC completed the acquisition of 111 WoodSpring Suites-branded hotels from Brookfield Property Partners L.P.	22-03-30	CI
New Fuddruckers Locations to Open At Brookfield Properties	22-03-14	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Full Year Ended December 31, 2021	22-02-25	CI
Brookfield Property Partners L.P. Announces First Amendment to the Third Amended and Restated Master Services Agreement with Brookfield Asset Management Inc	22-02-11	CI
Blackstone Inc. (NYSE:BX) and Starwood Capital Operations, LLC agreed to acquire 111 WoodSpring Suites-branded hotels from Brookfield Property Partners L.P. for $1.5 billion.	22-01-23	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021	21-11-10	CI
An unknown buyer acquired Two Retail Assets in United States from Brookfield Property Partners L.P. for approximately $39 million.	21-11-09	CI
Brookfield Property Partners L.P.'s Equity Buyback announced on September 11, 2020, has expired.	21-09-13	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Second Quarter Ended June 30, 2021	21-08-06	CI
An unknown buyer acquired Four Retail Assets in the United States from Brookfield Property Partners L.P. for approximately $73 million.	21-08-05	CI
Brookfield Property Partners L.P.(TSX:BPY.UN) dropped from S&P/TSX 60 Index	21-07-27	CI
Brookfield Property Partners L.P.(TSX:BPY.UN) dropped from S&P/TSX Income Trust Index	21-07-27	CI

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Company Profile

Brookfield Property Partners L.P. owns and operates real estate. The Company's partnership is Brookfield Asset Management's primary vehicle to make investments across strategies in real estate. Its segments include Core Office, Core Retail and LP Investments. Core Office portfolio consists of interests in approximately 142 office properties totaling approximately 96 million square feet, which are located primarily in the commercial markets, such as New York, London, Los Angeles, Sydney, Toronto, and Berlin, as well as approximately 10 million square feet of active office and multifamily developments. Its Core Retail segment consists of approximately 124 retail properties located throughout the United States comprising approximately 121 million square feet of gross leasable area. LP Investments segment includes its investments in Brookfield-sponsored real estate funds. It has interests in various real estate sectors around the globe.

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