Unibail-Rodamco: Go-ahead for acquisition of Westfield
(CercleFinance.com) - Unibail-Rodamco has said that it has received unanimous approval from the works councils, as announced on 12 December, for the acquisition of Westfield Corporation by the Franco-Dutch real estate group.
Under the terms of the contract, Westfield shareholders will receive an amount in cash and Unibail-Rodamco shares, valuing each Westfield share at 7.55 dollars, which gives Westfield an enterprise value of 24.7 billion dollars.
After the transaction, which is set to be completed in the second quarter of 2018, the group will hold assets of over 61.1 billion euros, and has identified potential annual synergies of 100 million euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Under the terms of the contract, Westfield shareholders will receive an amount in cash and Unibail-Rodamco shares, valuing each Westfield share at 7.55 dollars, which gives Westfield an enterprise value of 24.7 billion dollars.
After the transaction, which is set to be completed in the second quarter of 2018, the group will hold assets of over 61.1 billion euros, and has identified potential annual synergies of 100 million euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.