ETF News

Canada's Brookfield exploring takeover of Germany's Alstria Office - Bloomberg News

July 21 (Reuters) - Canadian investment firm Brookfield Asset Management is exploring a takeover of German real estate company Alstria Office REIT AG, Bloomberg News reported here on Wednesday, citing people familiar with the matter.

Shares in the German firm rose as much as 10.6% on the news.

Brookfield is working with advisers to evaluate a potential offer for Alstria, according to the report.

Alstria owns about 120 office properties in major cities including Hamburg, Frankfurt and Berlin, which are seeing workers return as Germany has eased its COVID-19 lockdown measures.

The company has a market value of about $3.56 billion, with Brookfield having an 8.35% stake as of June 25.

Brookfield declined to comment, while Alstria was not immediately available for comment.

Last month, Brookfield had agreed to buy UK-based infrastructure services company Modulaire Group for $5 billion. ( (Reporting by Ankit Ajmera in Bengaluru; Editing by Ramakrishnan M.)