General Growth says its stake in Brazilian mall owner didn’t change with Aliansce’s IPO

General Growth says stake in Aliansce unchanged

CHICAGO — General Growth Properties Inc. said Wednesday its stake in joint venture partner Aliansce Shopping Centers S.A. remains unchanged following an initial public offering by the Brazilian mall operator.

General Growth said it did not sell any of its Aliansce shares and retains a roughly 31.4 percent stake in the company, which develops, owns and manages shopping centers in Brazil.

Aliansce completed an offering of 65 million shares on the Brazilian Stock Exchange.

General Growth, the second-largest mall operator in the United States, owns or manages more than 200 regional malls in 43 states, including the Ala Moana Center in Honolulu and the Harborplace & The Gallery in Baltimore.

The company filed the largest U.S. real estate bankruptcy case in history last April.

In December, the bankruptcy court approved its plan to restructure some of General Growth’s debt.