Ratner Sells to Parent

August 4, 2006
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Bruce Ratner is selling the remainder of his real estate holdings to parent company Forest City Enterprises for $60 million in cash plus a stake in the new holding partnership. (FCE had previously owned a "majority" stake in Forest City Ratner.) NoLandGrab, the opposition blog, thinks this is a sign of Ratner's desperate financial straits, but whatever the reason, investors are neither impressed nor frightened. The parent company's stock is up just a few cents since the announcement was made after the market's closing last night. -Matthew Schuerman
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