Sheryl Cefali
Managing Director
Fairness and Solvency Opinions
Los Angeles
Solvency Opinion
Kroll Rendered Solvency Opinions in Connection with Howard Hughes Holdings’ Spinoff of Seaport Entertainment Group
On July 31, 2024, Howard Hughes Holdings Inc. (NYSE: HHH) completed the spinoff of Seaport Entertainment Group Inc. (NYSE American:SEG). Howard Hughes Holdings' stockholders received one share of Seaport Entertainment Group common stock for every nine shares of common stock of Howard Hughes Holdings held at the close of business on July 29, 2024.
The Duff & Phelps Opinions Practice of Kroll, LLC rendered solvency opinions to the boards of directors of Howard Hughes Holdings and Seaport Entertainment Group in connection with the spinoff transaction.
About Howard Hughes
Howard Hughes Holdings owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned communities, as well as operating properties and development opportunities including: The Woodlands, Bridgeland and The Woodlands Hills in the Greater Houston, Texas area; Summerlin in Las Vegas; Downtown Columbia in Maryland; Ward Village in Honolulu, Hawaii; and Teravalis in the Greater Phoenix, Arizona area.
About Seaport Entertainment
Seaport Entertainment Group’s assets include the South Street Seaport properties and restaurant operations, including the Tin Building, in Lower Manhattan, New York; the Las Vegas Aviators Triple-A Minor League Baseball team and their ballpark; an interest in the air rights above Fashion Show Mall in Las Vegas, Nevada; and a 25% equity interest in the Jean-Georges restaurant group.
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