Westfield to be taken over

French shopping centre owner Unibail-Rodamco has agreed to buy Westfield Corp, the Australian company which owns Westfield London, for £18.5 billion (US$24.7bn).

Westfield owns and operates 35 shopping centers in the United States and United Kingdom valued at £24 billion.

“Unibail-Rodamco’s track record makes it the natural home for the legacy of Westfield’s brand and business,” Westfield Chairman and co-founder Frank Lowy said in a statement.

The deal will create a £54 billion retail behemoth with assets in 27 national markets.

 

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