Paris, Amsterdam, June 7, 2018
Press release
UNIBAIL-RODAMCO COMPLETES THE ACQUISITION OF WESTFIELD TO FORM UNIBAIL-RODAMCO-WESTFIELD
Unibail-Rodamco today announces that it has completed the acquisition of Westfield, to create Unibail-Rodamco-Westfield, the premier global developer and operator of flagship shopping destinations .
Unibail-Rodamco-Westfield combines two of the strongest and most respected names in the real estate industry to build on their legacies.
With a portfolio valued at €62 Bn[1], of which 88% in retail, 7% in offices and 6% in convention & exhibition venues, Unibail-Rodamco-Westfield owns and operates 102 shopping centres in 13 countries, of which 56 are flagships in the most dynamic cities in Europe and in the United States. Its centres welcome 1.2 billion visits per year.
The Group provides a unique platform for retailers and brand events and offers an unparalleled experience for customers. It will leverage the world-famous Westfield brand by gradually rebranding Unibail-Rodamco flagship assets.
Looking forward, Unibail-Rodamco-Westfield boasts an unrivalled development pipeline of €13 Bn[2]. Capitalising on its « Better Places 2030 » agenda, to be implemented in the entire Group, Unibail-Rodamco-Westfield's development projects are designed to create "better places" that respect the highest environmental standards and contribute to better cities.
Christophe Cuvillier, Group Chief Executive Officer, commented: "Today is an extraordinary day as we bring together Westfield's and Unibail-Rodamco's outstanding assets and 3,700 talented professionals. We look forward to writing together a new chapter in our history. With an unparalleled track-record and know-how in retail, offices and convention & exhibition venues, the Group is ideally positioned to generate superior value and develop world-class projects."
Unibail-Rodamco-Westfield is listed on Euronext Amsterdam and Paris (Euronext ticker: URW). A secondary listing has been established in Australia through Chess Depositary Interests.
Next step
- Publication of H1-2018 results: August 29, 2018
(1) Proportionate Gross Market Value as at December 31, 2017. (2) As at December 31, 2017.
For further information, please contact:
Investor Relations Maarten Otte +33 1 76 77 58 02 Maarten.otte@unibail-rodamco.com
Media Relations Nathalie Feld +33 1 76 77 57 94 nathalie.feld.contractor@unibail-rodamco.com
About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield is the premier global developer and operator of flagship shopping destinations. With a portfolio valued at €62 Bn as at 31 December 2017, of which 88% in retail, 7% in offices and 6% in convention & exhibition venues, the Group owns and operates 102 shopping centres, of which 56 are flagships in the most dynamic cities in Europe and the United States. Its centres welcome 1.2 billion visits per year. Present in 2 continents and in 13 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events, and offers an exceptional and constantly renewed experience for customers.
With the support of its 3,700 professionals and an unparalleled track-record and know-how, Unibail-Rodamco-Westfield is ideally positioned to generate superior value and develop world-class projects. The Group has the largest development pipeline in the industry, worth €13 Bn.
Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, that sets its ambition to create better places that respect the highest environmental standards and contribute to better cities.
Unibail-Rodamco-Westfield is listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW). A secondary listing has been established in Australia through Chess Depositary Interests. The Group benefits from an A rating from both Standard & Poor's and Fitch Ratings, and from an A2 rating from Moody's.
For more information, please visit www.urw.com
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