GGP Pays Blackstone, Fairholme $633M For Stock Warrants

Law360, New York (January 29, 2013, 4:20 PM EST) -- Illinois-based shopping center real estate investment trust General Growth Properties Inc. has acquired warrants for the company's stock held by Blackstone Group LP and Fairholme Funds Inc. for $633 million, General Growth said Monday.

Blackstone and Fairholme were two of the three private fund investors that provided a capital infusion to General Growth in 2010, helping pull the company out of bankruptcy. The warrants, which were scheduled to expire in November 2017, were transferable to roughly 52 million shares of General Growth at roughly $9.37 per...
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