Brascan in Talks to Acquire Malls

Brazilian private equity investor Brascan is in talks to acquire the Plaza network of shopping malls in Brazil for BRL1bn, according to local press reports. Plaza controls several high profile assets in Sao Paulo and Rio. Brascan was recently folded into Brookfield Asset Management, which manages $90bn in assets globally across all asset classes. Contacted by LatinFinance, Brascan officials acknowledged the reports but declined to comment on the deal.