French property giant Unibail-Rodamco has agreed to buy shopping centre owner Westfield Corp for $24.7bn (£18.5bn), in a deal which will lead to new malls spreading across Europe.
With Westfield group owning and operating 35 shopping centres in the US and UK and Unibail-Rodamco having 71 sites in Europe, this is a deal of shopping centre giants that will change the game in retail. Both groups have committed to expanding the Westfield brand as a flagship shopping destination.