Acquisition of Westfield Corporation by Unibail-Rodamco

Amsterdam and Paris – 5 June 2018 – Following the successful acquisition of Westfield Corporation by Unibail-Rodamco, the new Group has been listed today on Euronext Amsterdam and Euronext Paris. The new Group opened the trading day in both Euronext marketplaces, which denotes the first trading day. The company aims to release its new branding on 7 June 2018.

Prior to the acquisition, Unibail-Rodamco was Europe’s largest listed commercial property company, with a presence in 11 continental European countries, and a portfolio of assets valued at €43.6 billion[1]. Previously listed on the Australian Securities Exchange, Westfield’s portfolio comprises 35 shopping centres in select markets in the United States and the United Kingdom, valued at €18.4 billion1. Together, the combined group creates the global premier developer and operator of flagship shopping destinations, with 102 shopping centres located in the world’s most dynamic cities across Europe and in the United States. In addition to its standing assets valued at €62 billion1, the new Group has the world’s largest development pipeline, worth €13 billion as at 31 December 2017.

The new Group was admitted to listing and trading on the regulated market of Euronext in Amsterdam and in Paris, through the direct listing of 138,282,967 stapled shares, following the acquisition of Westfield. Market capitalisation was 26.3 billion on the day of listing.

Christophe Cuvillier, CEO of the new Group, said “The new Group brings together the two leaders in the retail property industry, forming the must have partner for international retailers and brands across Europe and select markets in the United States. With an unparalleled track-record and know-how in retail, offices and convention & exhibition, the new Group is ideally positioned to develop world-class projects. I look forward to June 7, and bringing together the teams of Unibail-Rodamco and Westfield.”

 

[1] Proportionate GMV. Includes investments in shopping centres, assets under construction, assets held for redevelopment and inventories

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