General Growth Properties Files Registration Statement for Spinco
August 25 2010 - 8:57AM
Business Wire
General Growth Properties, Inc. (NYSE: GGP) today announced its
subsidiary, Spinco, Inc. (“Spinco”), has filed a registration
statement on Form 10 with the Securities and Exchange Commission to
register its common stock under Section 12 (b) of the Securities
and Exchange Act of 1934. Pursuant to GGP’s plan of reorganization
for emergence from bankruptcy, Spinco is the newly formed public
real estate company that will specialize in the development of
master planned communities and other strategic real estate
development opportunities. Substantially all of Spinco’s common
stock will be distributed to the holders of GGP’s common stock and
GGP will not retain any ownership of Spinco.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The registration statement on Form 10 may be accessed
through the Securities and Exchange Commission’s website at
www.sec.gov.
About GGP
GGP currently has ownership and management responsibility for
more than 200 regional shopping malls in 43 states, as well as
ownership in planned community developments and commercial office
buildings. GGP’s portfolio totals approximately 200 million square
feet of retail space and includes more than 24,000 retail stores
nationwide. GGP’s common stock is traded on the New York Stock
Exchange under the symbol GGP.
GGP Inc. (NYSE:GGP)
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