Deals
China’s General Growth Stake a Bet on U.S. Shoppers
This article is for subscribers only.
China’s sovereign wealth fund, in a bet that American real estate and retail spending will recover, has acquired a 7.4 percent stake in General Growth Properties Inc., the second-largest U.S. mall owner.
China Investment Corp. holds 59.3 million common shares and warrants to buy an additional 14.7 million shares, according to a Form 4 filed yesterday with the U.S. Securities and Exchange Commission. The Future Fund Board of Guardians, a manager for Australian government pension funds, holds a 6.4 percent stake in Chicago-based General Growth, documents show.