The companies have just set the price for the majority stakes Brookfield owns in malls Patio Paulista and Patio Higienopolis, aiming to finalize a deal by the end of December, sources said this week
and Brazilian shopping center operator Iguatemi SA are nearing an agreement regarding the sale of two Sao Paulo malls, according to multiple people familiar with the matter.
The sale of the two shopping centers, valued at close to 2.5 billion reais when concluded, will mark Brookfield’s exit from the Brazilian malls sector, the same sources said, requesting anonymity due to the private nature of the negotiations. According to a person familiar with the situation, other groups have also showed interest in the malls.Brookfield, managing around 200 billion reais in assets in Brazil, remains active in various other sectors in the country, including renewable energy, infrastructure, private equity, and real estate.
As per their agreement, Iguatemi will complete the due diligence process with the goal of signing the final contract with Brookfield by the end of 2024.
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