Westfield strikes $32b deal with Unibail-Rodamco

Anthony Macdonald, Matthew Cranston and Nick Lenaghan

Updated Dec 13, 2017 – 12.45pm, first published at Dec 12, 2017 – 3.01pm

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Already a subscriber?

Sir Frank Lowy has agreed to sell his global shopping empire, Westfield Corporation for $32 billion to European giant Unibail-Rodamco as landlords around the world bulk up against the rise of online shopping.

In what would be Australia's biggest takeover, the deal, first revealed by Street Talk, will create a $95 billion global retail giant with shopping centres spanning major cities in 13 countries.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.

Matthew Cranston was The Australian Financial Review’s United States correspondent

Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts.