Brazilian real estate management company BR Properties S.A. signed Wednesday a memorandum of understanding with privately held WTorre to merge operations in a $2.5 billion deal, the companies said in a regulatory filing. The merger will create a real estate company with 10 billion Brazilian reais ($5.8 billion) in assets. Completion of the deal is subject to shareholder approval, negotiation of final contracts and satisfactory completion of due diligence, the companies said. 
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