Westfield Selling Five Assets in U.S. for US$1.1 Billion
December 20 2015 - 6:07PM
Dow Jones News
By Robb M. Stewart
MELBOURNE, Australia--Shopping-center owner Westfield Corp.
(WFD.AU) has sold five assets in the U.S. for US$1.1 billion, part
of its strategy to narrow its focus on flagship operations in
leading markets.
Proceeds from the sale will be used initially to pay down debt
and will be redeployed in time toward Westfield's US$11.4 billion
development program, the company said Monday.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
December 20, 2015 17:52 ET (22:52 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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