Brookfield to unveil U.S. mall deal

Brookfield Asset Management Inc. is expected to Wednesday to announce a deal to acquire part of General Growth Properties, which would be broken into two, the Wall Street Journal reports.

Toronto-based Brookfield would put $2.63-billion (U.S.) toward the plan, which would take the giant U.S. mall owner out of bankruptcy protection, the news organization said.

General Growth, which owns almost 200 malls in the United States, would split into one company that owns the high-quality malls and another that still holds the riskier assets.

More to come