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General Growth Properties Falls Following Report It's Not Being Acquired

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According to a report by The Real Deal, a New York focused real estate news organization, Brookfield Property Partners LP (NYSE: BPY)'s executives "threw cold water on a rumor" that the company is eyeing an acquisition of General Growth Properties Inc (NYSE: GGP).

Shares of General Growth Properties tumbled lower by more than 3 percent on Friday.

The Real Deal cited comments that Brookfield's CEO Brian Kingston said during the company's fourth quarter conference call: "We're happy with our GGP investments in their current form."

Brookfield already owns 34 percent of General Growth Properties and rumors surfaced recently the company was looking to acquire the remainder of the company it didn't already own.

 

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