Australian Retirement Trust to acquire a 19.9% stake in Westfield Sydney from Scentre Group for $864m.

Australian Retirement Trust, an Australian superannuation fund, agreed to acquire a 19.9% stake in Westfield Sydney, a shopping centre in the Sydney central business district, from Scentre Group, the owner and operator of Westfield in Australia and New Zealand, for $864m. “We are very pleased to establish a new strategic partnership with ART through this significant Westfield Sydney transaction. We look forward to working with the team at ART on the next chapter of Westfield Sydney’s evolution," Elliott Rusanow Scentre Group CEO.