Associated Press - March 8, 2010 10:04 PM ET

CHICAGO (AP) - Shopping mall operator General Growth Properties says 2 of its creditors have offered to invest $3.93 billion in the company to help it emerge from bankruptcy protection.

General Growth said in a statement late Monday that Fairholme Capital Management and Pershing Square Capital Management, which is also a major General Growth shareholder, offered the investment of new equity capital valued at $15 a share.

Canada's Brookfield Asset Management last month offered to invest $2.6 billion in cash in exchange for General Growth shares.

General Growth says the combined investments, along with debt issuance, would give it the cash it needs to emerge from bankruptcy.

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