Tuesday, December 12, 2017

French company buys Westfield; creates world’s biggest mall operation

On Friday, Frank Lowy, received a knighthood from Queen Elizabeth at Windsor Castle. Today, a company from across the Channel ended his 60-year career as an international mall developer with a multi-billion-dollar sendoff.

France’s Unibail-Rodamco will pay $24.7 billion to take over Lowy’s Australia-based Westfield, creating a global property leader with a gross market value of $72 billion and a presence in 27 of the world’s “most attractive” cities and retail markets, according to a Westfield press release.. . . more

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