International shopping centre giant Westfield announced on Thursday that its securityholders have approved the acquisition of Westfield by Europe's Unibail-Rodamco, supporting the transaction by over 97%.
'The massive support demonstrated today by Westfield securityholders clears the way for the creation of the premier global developer and operator of flagship shopping destinations,' said Christophe Cuvillier, CEO of Unibail-Rodamco.
'This excellent news comes one week after the approval of the transaction by close to 95% of the votes cast by Unibail-Rodamco shareholders,' he added.
'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.
'I would like to pay tribute to Sir Frank Lowy AC, whose talent and vision turned Westfield into an incredible success story which we will build on in the future.
I look forward to June 7, and bringing together the teams of Unibail-Rodamco and Westfield,' Cuvillier concluded.
Under the latest agreement, Unibail-Rodamco and Westfield will pay their shareholders the final dividends as separate companies in the last few days of May, before the merger is fully implemented on 7 June.