Unibail-Rodamco-Westfield (ASX:URW) inks deal to divest Paris stake

Company News

by Lauren Evans

Unibail-Rodamco-Westfield (ASX:URW) has agreed to sell a 45 per cent stake in Westfield Carré Sénart, plus provide asset and property management services under a joint venture with Societe Generale Assurances and BNP Paribas Cardif.

The westfield-owner said Westfield Carré Sénart is the 10th most visited shopping centre in France. 

“We are pleased to announce the completion of this transaction and the creation of a long-term partnership with two leading French institutional investors," said chief executive officer of URW Jean-Marie Tritant. 

"The agreement is fully in line with our European disposal strategy to find the right joint venture partners for select assets, allowing us to release capital while continuing to leverage our established management capabilities.”

Shares in Unibail-Rodamco-Westfield (ASX:URW) are trading 7.2 per cent higher at $5.64. 

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