$2.6B Brookfield Deal Would Split GGP Into 2 Parts

Law360, New York (February 24, 2010, 7:09 PM EST) -- Mall owner General Growth Properties Inc. announced Wednesday that it had received a $2.63 billion proposed equity commitment from Brookfield Asset Management Inc. as part of a plan to divide the company in two as it exits bankruptcy.

The deal, filed in the U.S. District Court for the Southern District of New York just eight days after GGP rebuffed a $10 billion mostly cash offer from Simon Property Group Inc., purportedly would provide par plus accrued interest to unsecured creditors and would provide existing stockholders with...
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