A PYMNTS Company

EU: Unibail seeking US-UK shopping mall consolidation

By  |  December 12, 2017
EU: Unibail seeking US-UK shopping mall consolidation

Europe’s biggest property firm, Unibail-Rodamco, is to buy US and UK mall operator Westfield Corp for US$16 billion, a defensive move to create a global leader in a sector grappling with the online shopping challenge led by Amazon, reports the Wall Street Journal.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The deal gives Europe-focused Unibail, which owns “Les 4 Temps” and “Forum des Halles” in Paris and has centers spreading from Helsinki to Valencia, exposure to the United States and Britain, where Westfield operates 35 malls, including landmark premises in London.

    Under its Australian billionaire chairman and co-founder Frank Lowy, Westfield has pioneered US mall redevelopment, introducing upscale food courts, high-end restaurants, bars, cinemas and boutique fashion outlets to entice shoppers.

    Full Content: Wall Street Journal

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.