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Europe’s biggest mall owner buys Westfield for $25bn

General view of Westfield shopping centre, London.


The Guardian

Europe’s biggest commercial property company is to buy Westfield, the Australian company behind the UK’s two highest-earning shopping centres, in a $25bn (£19bn) deal that will create the world’s largest mall operator.

Unibail-Rodamco of France, which owns Forum des Halles in Paris, plans to roll out Westfield centres in Europe and the US. The Lowy family, Westfield’s biggest shareholder, is selling its 9.5% stake for a mixture of cash and Unibail shares.

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