General Growth Leaves Bankruptcy, Splits in Two
The company spun off Howard Hughes Corp, an owner of properties including master-planned communities, Bloomberg News said.
Shares in Howard Hughes will begin trading tomorrow on the New York Stock Exchange, as will shares in the new General Growth.
Last month, General Growth hired Sandeep Mathrani as its new CEO, effective the beginning of 2011. Mathrani was previously vice president of retail real estate at Vornado Realty Trust.