"The acquisition of Westfield is a natural extension of Unibail-Rodamco's strategy of concentration, differentiation and innovation", said Christophe Cuvillier, chairman of the management board and CEO of Unibail-Rodamco. The company also is developing malls in Brussels and in Hamburg, Germany.
Unibail-Rodamco owns and operates 69 shopping centers in some of Europe's key cities, including Paris, Madrid, Stockholm, Amsterdam and Munich, Germany.
"The deal accelerates consolidation of the global retail property sector", Kaye and Paul point out, and "comes on the heels of world No. 2 retail real estate investment trust GGP Inc's rejection of a $14.8 billion offer from Brookfield Property for the two-thirds it did not already own".
It follows last week's proposed tie-up of Hammerson, owner of Birmingham's Bullring, with Lakeside and Trafford Centre operator Intu, as the surge in online buying forces shopping centre groups to focus on their best assets.
Ball brothers officially sign with Lithuania team The franchise is hoping the Ball brothers - and father LaVar - can be a publicity boon to the fledgling organization. LiAngelo withdrew from UCLA after they suspended him indefinitely due to a shoplifting incident in China.
Westfield began in 1959 when billionaire Frank Lowy and his partner John Saunders opened a shopping center in Sydney, Australia. Unibail expects the deal to close in the first half of 2018. Unibail-Rodamco shares have fallen 1.2 percent. In the Los Angeles area, it has the newly renovated Century City mall, as well as its Culver City, Topanga & the Village, Fashion Square in Sherman Oaks, and Santa Anita malls. "Shares of such companies have been hit hard and store closures are accelerating, pressuring landlords to fill empty space and reinvent shopping centers", Pooja Thakur Mahrotri and Matthew Burgess write for Bloomberg.
Frank Lowy, the chairman of Westfield, will retire as part of the deal, while his sons Peter and Steven will resign as the company's co-chief executives.
Speaking from Milan, Lowy said it was a day of mixed emotion, but was certain it was appropriate to do the deal now.
Westfield's portfolio includes shopping areas at U.S. airports such as Newark Liberty International, John F. Kennedy International, Los Angeles International and Orlando International. He was knighted by this month for his contributions to the United Kingdom's economy and for his philanthropy.
The dirt and grit burn up when they run into Earth's environment in a flurry of "shooting stars". "It's like fireworks. But the recent respite from rain could tilt the odds in our favor, according to the National Weather Service (NWS).
The Buffalo Bills and Indianapolis Colts have played out a gridiron war of attrition in an incredible snow blizzard in the NFL . How much? A combined 97 times, the most carries in a game since the Chiefs and Bears combined for 100 in a game in 1981.
The source said the drone went missing earlier this week, but the exact date of the incident was not revealed. Indeed, China appears to have monitored India with drones in the Himalayas for many years.
On Monday, Kiev's Pechersky court rejected a motion of prosecutors and refused to place Saakashvili under house arrest. Saakashvili praised the judge's ruling as "courageous", and said, "It means not everything is lost in Ukraine".
Google probably expected that the Google Home Max would be going up against Apple's version of the smart speaker, the HomePod . So if you are looking for an advanced smart speaker with great output, Google Home Max is up for purchase now.
Paris Saint-Germain's Brazilian forward Neymar (L) and Real Madrid's Portuguese forward Cristiano Ronaldo (R). Swiss Club FC Basel will face Manchester City and 2017 runners-up, Juventus will face Tottenham Hotspur.
Israel has placed a high priority on halting the tunnel threat since Hamas infiltrated Israel during the 2014 war. It is the second terror tunnel neutralized in recent weeks. "And, second, because this is a Hamas terror tunnel".
Net neutrality regulations enacted in 2015 require that all internet traffic is treated the same by internet service providers. California, MD- On Thursday Dec 14, the FCC is voting on a plan to end Net Neutrality .
Two Palestinian militants killed in Gaza strike
A rocket was launched toward Israel from the northern Gaza Strip on Tuesday and exploded on the Palestinian side of the fence. An Israeli air strike killed two Palestinians riding a motorcycle in the Gaza Strip on Tuesday, local residents said.
Apple Confirms Acquisition Of Music Recognition App Shazam
It was quick to move on third-party apps when Apple first opened up the iPhone, but it's remained relatively stagnant ever since. Shazam is already an integral part of Siri, powering the Apple voice assistant's song recognition function.
NASA and Google to Announce AI Breakthrough
Cagey on the details, NASA's press release states that machine learning "demonstrates new ways of analyzing Kepler data". It completed its primary mission in 2012, when two of the four reaction wheels used to position the telescope failed.
Patterson Announces Intent to Transfer to MI
Peters showed positive signs but wasn't asked to do much before being injured in the November 18 loss to Wisconsin . This season, he completed 166 of 260 pass attempts for 2,259 yards with 17 touchdowns and nine interceptions.
Thousands of Indonesians rally at US Embassy over Jerusalem
It said similar and simultaneous protests also were held Sunday in at least 10 provincial capitals and cities across Indonesia. Thirteen demonstrators were arrested and four officers were lightly injured by stones, police spokesman Micky Rosenfeld said.
Garoppolo's First 300-Yard Effort Leads 49ers to Win
Houston went up 16-13 when Hopkins grabbed a 29-yard touchdown reception on the Texans' first drive of the second half. Hopkins had 149 yards receiving and two touchdowns, but lost a fumble in the fourth quarter with the Texans down by 7.
Packers rally in overtime to beat the Browns
Gordon's touchdown reception was just the third by a Browns receiver this season, according to ESPN Stats & Information. Green Bay took its time before knotting the score with 17 seconds left on a Hundley touchdown pass to Davante Adams .