(Reuters) -Billionaire investor Bill Ackman's Pershing Square Capital Management will buy 9 million newly issued shares of real estate developer Howard Hughes Holdings for $900 million, the companies said on Monday.

Howard Hughes Holdings, The Woodlands-based real estate development and operating company, on Monday sold 9 million new shares to billionaire investor Bill Ackman's Pershing Square. The $900 million transaction,

Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) today noted that its investment manager, Pershing Square Capital Management, L.P. (the "Investment Manager"), the Investment Manager’s holding company,