Unibail-Rodamco (Paris: UL.PA) said Dec. 12 it reached an agreement with Westfield Corp. (ASX: WFD) to acquire the Australian mall operator in a deal valued at approximately $16 billion.

The companies say the deal will create a global retail real estate company with $72 billion of gross market value, positioned in 27 retail markets and cities worldwide. The Westfield brand name will gradually be deployed across Unibail-Rodamco’s flagship assets.

Source: RSS Reit

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