Unibail-Rodamco completed the acquisition of Westfield Corporation for $24.7bn.

Unibail-Rodamco, a multinational commercial real estate company, completed the acquisition of Westfield Corporation, an Australian commercial real estate company and operator of shopping centres, for $27.4bn. "We are delighted to announce this transaction today. All of us at Unibail-Rodamco have immense respect for what the Lowy family and the Westfield team have accomplished with the Westfield brand and the company's iconic collection of world class shopping destinations. The acquisition of Westfield is a natural extension of Unibail-Rodamco's strategy of concentration, differentiation and innovation. It adds a number of new attractive retail markets in London and the wealthiest catchment areas in the United States. It provides a unique platform of superior quality shopping destinations supported by experienced professionals of both Unibail-Rodamco and Westfield. We believe that this transaction represents a compelling opportunity for both companies to realize benefits not available to each company on a standalone basis, and creates a strong and attractive platform for future growth. We look forward to welcoming Westfield's securityholders as shareholders in the new Group and continuing to create significant value for our existing and new shareholders," Christophe Cuvillier, Unibail-Rodamco Chairman of the Management Board and Chief Executive Officer.