Westfield Corporation Sold for $15.7 Billion to French Company

Australian-based Westfield corporation, which owns 38 malls and shopping centers in the U.S. , as well as retail centers in the Australia, New Zealand and the U.K.,  has been sold for $15.7 billion to Unibail-Rodamco, a French real estate giant, which owns and operates 69 shopping centers in Europe including in Paris, Madrid, Stockholm, Amsterdam and Munich, reported Forbes.

The cash-and-stock deal values shares of Australia-based Westfield at $7.55 a share, an 18 percent premium over Monday’s closing price. The combined company will own property valued at some $72.2 billion, with locations in 27 cities around the world.