Brookfield, Simon to buy J.C. Penney operating assets: Reuters

U.S. retailer J.C. Penney has entered into an asset purchase agreement with Brookfield Asset Management, Simon Property Group and a majority of the company’s first lien lenders, Reuters reported.

U.S. retailer J.C. Penney has entered into an asset purchase agreement with Brookfield Asset Management, Simon Property Group and a majority of the company’s first lien lenders, Reuters reported. Under the agreement, Brookfield and Simon, which are the retailer’s two biggest landlords, will buy substantially all of J.C. Penney’s retail and operating assets through a combination of cash and new term loan debt.

Source: Reuters