Sept 14 (Reuters) - Brookfield Asset Management ( BAM )
is in talks to buy Yes! Communities, a U.S. company that manages
manufactured homes, from Singaporean sovereign wealth fund GIC
for more than $10 billion, the Financial Times said on Sunday,
citing unnamed sources.
Reuters could not immediately verify the report. GIC declined to
comment. Brookfield Asset Management ( BAM ) and Yes! Communities did
not immediately respond to Reuters' requests for comment.
The Canadian asset manager has been negotiating the acquisition
of Yes! Communities for several months and talks are ongoing,
the FT said, citing people who had been briefed on the matter.
While discussions are at an advanced stage, the deal has yet to
be finalised, the report added.
Yes!, which was acquired by GIC in 2016, has also been in
discussions about a potential initial public offering, according
to the FT.
Headquartered in Denver, Yes! Communities manages 213
communities across 18 states, comprising more than 54,500
residential home sites.