Press release from Business Wire
General Growth Properties Files Registration Statement for Spinco
Wednesday, August 25, 2010
General Growth Properties Files Registration Statement for Spinco08:57 EDT Wednesday, August 25, 2010 CHICAGO (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.