Certain funds managed by Brookfield Financial Properties L.P. was selected as preferred party to acquire Aveo Group (ASX:AOG) from Mulpha Strategic Limited, Rosetec Investments Limited and others on July 4, 2019. Aveo Group continues to negotiate with Brookfield in respect of its offer with a view to entering into definitive agreements leading to a scheme of arrangement to give effect to offer. As of August 14, 2019, scheme implementation deed was signed and Brookfield Financial Properties L.P. will pay AUD 2.195 each less permitted dividend to acquire 578.3 million shares, or a conditional scrip consideration alternative is also available which provides Aveo security holders with the potential to participate in a “stub equity” vehicle by way of units in AOG L.P. which would give them future exposure to Aveo, under which 2.15 units of AOG L.P. will be issued for one share of Aveo, provided that such number of valid elections are made in respect of scrip consideration that is equal to or greater than the minimum scrip consideration of 58.07 million or 10% of Aveo shareholders. If the number of valid elections made in respect of the scrip consideration is less than the minimum scrip consideration threshold, all Aveo security holders will receive the cash consideration. As of September 27, 2019, the cash consideration less the permitted dividend is AUD 2.15. As of November 25, 2019, 98.3 million shareholders made election for scrip consideration. As it accounted for 16.9%, scrip consideration is available. Scheme security holders can expect to receive the scheme consideration, as either cash consideration or scrip consideration on the implementation date. In case of termination Aveo will pay AUD 13 million to Brookfield Financial Properties L.P. The transaction is subject to approval from Foreign Investment Review Board and other regulatory approvals, approval from shareholders of Aveo Group, court approval and other customary conditions. As of July 21, 2019, an Independent Board Committee of Aveo Group is continuing to engage with Brookfield in order for the parties to conclude their negotiations on the agreements. Aveo Group shareholders do not need to take any action at this stage. As of August 14, 2019, the Board of Aveo Group unanimously recommended its shareholders to vote in favor of scheme. Mulpha International Bhd intends to vote in favor of the deal. As of November 4, 2019, the Foreign Investment Review Board approved the transaction. As of November 6, 2019, the security holders of Aveo Group vote in favor of the transaction. On November 13, 2019, transaction was approved by The Supreme Court of New South Wales. The Board of Aveo had established an Independent Board Committee to manage strategic review. The transaction will become effective on November 29, 2019.  Rebecca Maslen-Stannage of Herbert Smith Freehills and Merrill Lynch Markets (Australia) Pty Limited acted as legal and financial advisors to Aveo Group respectively. Computershare Investor Services Pty Limited acted as registrar to Aveo. Bill Allen and Ian Jedlin of KPMG Financial Advisory Services (Australia) Pty Limited acted as fairness opinion provider to Aveo. Rebecca Maslen-Stannage and Samuel Moran Allens acted as legal advisor for Brookfield Financial Properties L.P. Certain funds managed by Brookfield Financial Properties L.P. completed the acquisition of Aveo Group (ASX:AOG) from Mulpha Strategic Limited, Rosetec Investments Limited and others on November 29, 2019. Aveo intends to apply to have quotation of its securities terminated and for Aveo to be removed from the official list of the ASX with effect from the close of trading on December 2, 2019. UOB Kay Hian Securities (M) Sdn Bhd. acted as financial advisor to Mulpha International Bhd, parent of Mulpha Strategic Limited and Rosetec Investments Limited.