Westfield Corporation
This article contains content that is written like an advertisement. (March 2015) |
Company type | Public |
---|---|
ASX: WFD | |
Industry | |
Predecessor | Westfield Group (1960–2014) |
Founded | 2014 |
Founder |
|
Defunct | June 2018 |
Fate | Merged with Unibail-Rodamco |
Successor | Unibail-Rodamco-Westfield (2018–present) |
Headquarters | Level 29, 85 Castlereagh Street, , |
Area served | |
Key people | |
Revenue | A$635.5 million (2014) |
Total assets | A$29 billion (2016)[2] |
Number of employees | 1,700 worldwide (2016)[2] |
Subsidiaries |
|
Website | www |
Westfield Corporation was an Australian
Westfield accepted a $32.8 billion takeover offer from Unibail-Rodamco, excluding Westfield Labs, on 12 December 2017. The takeover was completed, and the parent company was renamed Unibail-Rodamco-Westfield, in June 2018.[3][4][5][6][7]
Westfield undertook ownership, development, design, construction, funds/asset management,
History
The first development of the Westfield Corporation was named "Westfield Place", and opened in July 1959 in
The company was floated on the Australian Stock Exchange in 1960 and built another five centres in New South Wales before expanding into Victoria and Queensland in 1966–67.[9]
The expansion into the United States began with the purchase of the
In the 1990s, Westfield began a major expansion to New Zealand, where they mostly bought existing shopping centres of the Fletchers company and progressively rebranded them. In 2007, with Westfield Albany, the company opened a new centre in the country.[10]
On 9 May 2006, Westfield announced the sale of eight United States shopping centres which it deemed to fit outside its strategic plan, to Centro Properties Group.[11]
In 2010, the Westfield Group split 50% of its Australian and New Zealand assets into the Westfield Retail Trust, trading on the Australian Stock Exchange as WRT. This trust was folded into the Scentre Group during the 2014 split.
In December 2017, the Westfield Board announced that it was recommending a takeover of the company by
Properties
Westfield had interests in over 100
See also
- Lend Lease Corporation
- Shopping property management firms
References
- ^ a b c d "Westfield Senior Management". www.westfieldcorp.com. Retrieved 1 June 2016.
- ^ a b "Interactive Investor". westfield2016sustainability.onyxinteract.com. Retrieved 1 June 2016.
- ^ Morgan, Elysse; Verrender, Ian (12 December 2017). "Westfield: Lowy family sells shopping centre empire to French property giant for $32 billion". ABC News. Australia. Retrieved 12 December 2017.
- SBS News. AAP. 12 December 2017. Retrieved 12 December 2017.
- ^ "French group to take over Westfield malls for $15.7 billion". Daily Herald. Chicago. AP. 12 December 2017. Retrieved 12 December 2017.
- ^ "French bid would create $72bn shopping mall group". Financial Times. United Kingdom. 12 December 2017. Retrieved 12 December 2017.
- ^ Cummins, Carolyn (12 December 2017). "End of an era: Westfield accepts $32.8bn offer". The Sydney Morning Herald. Retrieved 12 December 2017.
- ^ "Westfield Stirs (1956–1960)" (PDF). Westfield History: About us. p. 14. Retrieved 5 January 2007.
- ^ a b c Sammartino, André; Van Ruth, Frances (2007). "The Westfield Group". In Dick, H.; Merrett, D. (eds.). The Internationalisation Strategies of Small-Country Firms: The Australian Experience of Globalisation. Cheltenham, UK: Edward Elgar. pp. 308–318.
- ^ Gibson, Anne (23 August 2007). "Countdown under way for Albany supermall rollout". The New Zealand Herald.
- ^ "Centro Watt Enters Mall Business; US Platform Well-Positioned to Continue Growth". www.businesswire.com. 11 May 2006. Retrieved 7 February 2019.
- ^ "Westfield". Unibail - Rodamco - Westfield.