21 February 2020

Brookfield to put US$750 mln into Shui On unit, paper says

Brookfield Property Partners, a global commercial real estate company, has agreed to invest up to US$750 million in China Xintiandi, a wholly owned subsidiary of Shui On Land Ltd., Shanghai Daily reported Friday. The investment includes US$500 million in convertible perpetual securities which will convert automatically into China Xintiandi shares at an agreed conversion price once China Xintiandi is listed. Brookfield will be entitled to invest a further US$250 million, also in convertible perpetual securities. At the same time, Shui On Land will have the option to subscribe for up to US$250 million of ordinary shares in China Xintiandi, the report said.

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