The owner of London’s Westfield shopping centres said on Wednesday it would massively trim down its US presence and complete a remaining €3.2 billion-worth of European asset disposals before the end of 2022.
French billionaire Xavier Niel has teamed up with Unibail-Rodamco-Westfield's former boss to oppose the shopping mall group's planned €3.5 billion ($4.10 billion) rights issue, lifting the firm's shares.
Europe's largest property firm Unibail-Rodamco-Westfield posted a 14.2% like-for-like decline in H1 net rental income on Wednesday after malls were forced to close during Covid-19 lockdowns, but shoppers are returning.
French groups Crédit Agricole Assurances and La Française will hold a 54.2% stake in the joint-venture company set up with commercial real estate developer URW to run five leading shopping malls in France.
Europe’s largest property firm Unibail-Rodamco Westfield raised its full-year earnings guidance on Wednesday after reporting strong first-half growth in tenant sales at its flagship European and American retail centres.