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REAL ESTATE DECISION SUPPORT
General Growth reaches deal with Brookfield Asset Management
Publish date
02/24/2010
Source
Denver Business Journal
Main Category
Shopping Centers / Retail
Article Summary
An equity deal valued at $2.6 billion is anticipated to save General Growth Properties from bankruptcy and takeover. Made with Brookfield Asset Management, the agreement will transfer a 30.0% stake of the company to Brookfield, create a new company from the noncore assets of General Growth, and offer $15 shares of Brookfield stock to shareholders of General Growth. Completion of the agreement is awaiting approval of the bankruptcy court.
