Deals
Blackstone to Invest $500 Million in General Growth
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Blackstone Group LP, the world’s largest buyout firm, agreed to invest $500 million in General Growth Properties Inc. as part of its bankruptcy plan, as the U.S. Securities and Exchange Commission opened a formal insider- trading probe of some of the mall owner’s officials.
Blackstone reached the deal with the investor group financing the plan, General Growth said today in a revised reorganization proposal in U.S. Bankruptcy Court in New York. General Growth also said it received notice in July that the SEC is investigating possible insider-trading violations by current and former officers and directors.