Study of HHC
Real estate developer Howard Hughes Corp. said it’s working with advisers to explore strategic options including a potential sale of the company. The shares jumped.
Howard Hughes is working with Centerview Partners on the review, which may also result in a sale or spinoff of certain assets, a recapitalization or changes in corporate structure, according to a statement Thursday.
Howard Hughes believes it is worth about $200 a share, based on its estimate of the net value of its assets, according to people familiar with the matter. A sale of assets could include 60 acres of beachfront property in Hawaii, according to the people, who asked not to be named because the matter is private.
06/27/2019 – Howard Hughes Corp hires Centerview Partners to explore alternatives, including a sale: Sources
