Court OKs GGP's Plan For $2B Stock Offering

Law360, New York (October 8, 2010, 6:12 PM EDT) -- A bankruptcy judge on Friday approved an underwriting agreement that will allow real estate developer General Growth Properties Inc. to move forward with a $2.25 billion stock offering after it emerges from Chapter 11.

The order, signed by Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York, also authorized a $1.8 billion debt financing package.

GGP submitted its plan for the stock offering Sept. 22, with Goldman Sachs & Co., Deutsche Bank AG, Wells Fargo Securities, RBC Capital Markets,...
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