Simpson Thacher Represents Blackstone in Sale of Warrants in General Growth Properties
03.22.13
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The Firm represented Blackstone in the sale of its warrants to purchase shares of common stock of General Growth Properties, Inc. General Growth acquired all the warrants held by affiliates of Blackstone and Fairholme Funds, Inc. for approximately $633 million. The warrants were exercisable into an aggregate of approximately 52 million shares and were issued in connection with the restructuring of General Growth and its emergence from bankruptcy in 2010. The Firm represented Blackstone in the restructuring.
General Growth is a fully integrated, self-managed and self-administered real estate investment trust focused exclusively on owning, managing, leasing and redeveloping high-quality regional malls throughout the United States and Brazil. General Growth’s shares trade on the New York Stock Exchange.
The Simpson Thacher team includes Brian Stadler and Sean Crnkovich.