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Westfield shopping centres bought in $25bn deal

The owner of Westfield shopping centres is being bought for $24.7bn in a deal which will see the malls launched across Europe.French property group Unibail-Rodamco is offering $7.55 a share for the Australian business.Westfield Corporation has shopping centres in the UK and the US while Unibail-Rodamco has 71 sites in Europe.Unibail-Rodamco said the takeover would result in a “progressive roll-out of the world famous Westfield brand”.The takeover is the second major deal involving shopping centre owners to emerge in just over a week.On 6 December, Hammerson, which owns the Bullring in Birmingham, announced a £3.4bn bid for Intu, whose properties include the Arndale shopping centre in Manchester.
Source: BBC News

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