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Article: General Growth Properties Acquires Management Company For $51.5 Million
- Article from:
- PR Newswire
- Article date:
- September 3, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, Ill., Sept. 3 /PRNewswire/ -- General Growth Properties, Inc. (NYSE: GGP) announced today that it has closed on the acquisition of General Growth Management, Inc. (GGMI), the largest manager of third party owned shopping malls in the United States. The acquisition enables General Growth Properties to be completely self-managed with leasing, management and marketing operations under one roof. This will allow General Growth Properties to expand the third party management business, one of the most rapidly growing areas of the shopping center industry.
The acquisition involves an exchange of General Growth Properties common stock and limited partnership ...