Unibail-Rodamco to buy Westfield for €21b

Unibail-Rodamco, Europe's largest shopping centre landlord, has announced it is acquiring Sydney-listed peer Westfield for $24 bn (€21 bn).

One of the largest international real estate deals ever, the merger of the European and Australian listed groups creates a global property leader with €61.1 bn of gross market value, located in 27 of the world's retail markets and cities in the US, UK and continental Europe.

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