Unibail-Rodamco has closed its acquisition of Westfield to create Unibail-Rodamco-Westfield to form a company with a portfolio valued at €62bn. Already Europe’s biggest retail landlord, the Australian-based Westfield has a substantial presence in the UK, Italy as well as the United States. The transaction had been in the works since last year but faced a long series of approvals from anti-monopoly offices in numerous jurisdictions. Unibail-Rodamco’s holdings in the Czech Republic include Centrum Chodov, Centrum Černý Most and a 50 percent stake in Metropole and another five in Warsaw, including Arkadia, Galerie Mokotow and Zloty Tarasy. The group claims to control a development pipeline of €13bn.
