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Unibail-Rodamco: agreement for acquisition of Westfield

(CercleFinance.com) - Unibail-Rodamco and Westfield Corporation have announced an agreement for Unibail-Rodamco to acquire Westfield, which will form the world's largest creator and operator of flagship shopping centres.

Under the terms of the agreement, Westfield shareholders will receive cash and Unibail-Rodamco shares, valuing each Westfield share at 7.55 dollars, which values Westfield at 24.7 billion dollars (enterprise value).

Following the transaction, which is scheduled to be completed in the second quarter of 2018, Unibail-Rodamco will have assets of over 61.1 billion euros and has expected run-rate synergies of 100 million euros per annum.

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