Westfield Corporation

This article is about the company 2014–2018. For the company 1960–2014, see Westfield Group. For the company from 2018, see Unibail-Rodamco-Westfield.

Westfield Corporation
Company typePublic
ASX: WFD
Industry
PredecessorWestfield Group (1960–2014)
Founded2014; 10 years ago (2014)
Founder
DefunctJune 2018
FateMerged with Unibail-Rodamco
SuccessorUnibail-Rodamco-Westfield (2018–present)
HeadquartersLevel 29, 85 Castlereagh Street,
Sydney
,
Australia
Area served
Key people
RevenueA$635.5 million (2014)
Total assetsA$29 billion (2016)[2]
Number of employees
1,700 worldwide (2016)[2]
Subsidiaries
  • Westfield Management Limited
  • Westfield America Management Limited
Websitewww.westfieldcorp.com

Westfield Corporation was an Australian commercial real estate company and operator of shopping centres. It was founded with the spin-off of the Westfield Group in 2014, where assets in Australia and New Zealand formed the Scentre Group, and assets in the United Kingdom and United States formed the Westfield Corporation. It was listed on the Australian Stock Exchange with the ticker symbol "WFD".

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, property management, leasing, and marketing activities for its centres. Its portfolio included investment interests in 40 shopping centres across the United States and Europe, encompassing around 7,500 retail outlets and total assets under management in excess of $28.5 billion. It also operated Westfield Labs, a technology and design arm based inside the Westfield San Francisco Centre[8].[citation needed]

  1. ^ a b c d "Westfield Senior Management". www.westfieldcorp.com. Retrieved 1 June 2016.
  2. ^ a b "Interactive Investor". westfield2016sustainability.onyxinteract.com. Retrieved 1 June 2016.
  3. ^ 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.
  4. ^ "Westfield agrees to $32.8 billion takeover by European giant Unibail-Rodamco". SBS News. AAP. 12 December 2017. Retrieved 12 December 2017.
  5. ^ "French group to take over Westfield malls for $15.7 billion". Daily Herald. Chicago. AP. 12 December 2017. Retrieved 12 December 2017.
  6. ^ "French bid would create $72bn shopping mall group". Financial Times. United Kingdom. 12 December 2017. Retrieved 12 December 2017.
  7. ^ Cummins, Carolyn (12 December 2017). "End of an era: Westfield accepts $32.8bn offer". The Sydney Morning Herald. Retrieved 12 December 2017.
  8. ^ "Westfield opens US innovation lab". iTnews. Retrieved 1 August 2024.