Willkie Reps Brookfield In $1.7B General Growth Deal

Law360, New York (January 18, 2011, 6:19 PM EST) -- Brookfield Asset Management Inc.,  which spearheaded a deal to finance mall owner General Growth Properties Inc.'s emergence from bankruptcy in October, announced a $1.7 billion deal Tuesday to acquire Fairholme Funds Inc.'s stake in General Growth.

Brookfield will issue 27.5 million class-A shares of Brookfield stock worth $907 million to Fairholme and pay $804 million to acquire Fairholme's 113.3 million common shares of General Growth. The deal will increase Brookfield's stake in General Growth from 27 percent to 38 percent, the private equity firm said....
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