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Forest City Realty plans new financing for purchase by Brookfield
By Sara Rosenberg
New York, July 31 – Forest City Realty Trust Inc. plans on getting new financing to help fund its acquisition by Brookfield Asset Management Inc., according to a news release.
Bank of America Merrill Lynch, Barclays, BMO Capital Markets, Citigroup Global Markets Inc., Deutsche Bank, RBC Capital Markets and the Toronto-Dominion Bank are the leads on the financing.
Under the agreement, Forest City is being bought for $25.35 per share in an all-cash transaction valued at $11.4 billion, including debt.
Closing is expected in the fourth quarter, subject to certain conditions, including the approval of Forest City’s stockholders. The transaction is not contingent on financing.
Forest City is a Cleveland-based real estate company.
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