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Showing results for GGP, INC.
...BPY consummated the bet in August 2018 when it merged with retail landlord GGP, whose shareholders received cash payments worth $9.3bn....
...Recent investments have included the power solutions business of Johnson Controls it bought for about $13bn, US mall operator GGP for $15bn and Forest City property group for $11.4bn....
...has also received a buyout approach, people familiar with the sale have told the FT Canadian investment group Brookfield is increasingly focused on buyouts, sealing a $15bn deal to take US mall operator GGP...
...It has also been active in the shopping centre sector, taking private US mall owner GGP this year for $15bn....
...GGP, the mall group of which Brookfield already owned a third, was under pressure as the crisis in the retail sector hit demand for physical stores....
...This year, it agreed to buy the shares of US shopping mall owner GGP that it did not already own for $15bn....
...“The offer is wholly inadequate and should be rejected by GGP shareholders,” they wrote....
...GGP shares rose more than 16 per cent, putting them on track for their biggest one-day rise since 2010, according to Thomson Reuters data....
...Brookfield said the move to take full control of GGP would allow it to transform or repurpose GGP’s properties for other uses....
...The traditional “merger Monday” shaped Wall Street at the start of the new trading week, with Mattel and shopping mall giant GGP jumping on plans by rivals to acquire the two companies....
...The Canadian asset manager is also pursuing a $15bn deal to buy the majority stake in US shopping mall owner GGP that it does not already own. IWG and Brookfield declined to comment....
...The giant Canadian asset manager is also pursuing a $15bn deal to buy the majority stake in US shopping mall owner GGP that it does not already own....
...malls in the western US, fell 5.6 per cent ● Kimco Realty, which focuses on open-air shopping centres, was down 5.1 per cent ● Simon Properties, the largest player in the group, slipped 4.3 per cent ● GGP...
...China Investment Corp, for example, helped Brookfield recapitalise GGP, a distressed mall company in 2010....
...Separately, Sears also entered into a real estate joint venture with General Growth Properties, under which the Illinois-based retailer would sell 12 properties located at GGP malls....
...Pershing is currently GGP’s second largest shareholder, with a 10 per cent stake. Shares in GGP surged 9.72 per cent on the news (Wall Street Journal)....
...But they will now own about a third of a recapitalised GGP, with the shares having recovered to just below $18, and have a large stake in a new company housing GGP’s development properties....
...In response, Brookfield tweaked its plans for GGP, made in concert with Fairholme Capital Management and Pershing Square, a GGP investor, to win the company’s backing....
...Simon’s latest salvo in the battle for GGP mirrors its rival’s approach....
...The GGP battle began this year when Simon made a $10bn offer for the company....
...GGP commanded a market value of about $10bn when Lehman Brothers collapsed in September 2008. Two months later, GGP shares were worth just $100m....
...Other investors likely to profit on their GGP holdings include Centerbridge Partners, Elliott Associates, Goldman Sachs, Paulson & Co and York Capital....
...If Simon decides to bid for GGP’s entire mall portfolio, the transaction value could be between $25bn and $30bn, according to one person familiar with the potential deal....
...All three loans are sponsored by General Growth Properties (GGP). GGP, the second-largest operator of shopping malls in the US, filed for Chapter 11 bankruptcy protection in April....
...The loan is sponsored by General Growth Properties (GGP) and was included in its April 2009 chapter 11 bankruptcy filing....
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