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Westfield

December 5, 2013

Australian family retail empire Westfield Group has announced it will retake full control of the retail space at New York’s World Trade Center – 10 years after it sold the retail concourse of the original site, in the wake of the September 11 terrorist attacks.

Australian family retail empire Westfield Group has announced it will retake full control of the retail space at New York’s World Trade Center – 10 years after it sold the retail concourse of the original site, in the wake of the September 11 terrorist attacks.

Westfield, controlled by the Lowy family of Australia, repurchased a 50% stake in the retail part of the lower Manhattan site in July 2011, and announced in a statement this week that it would pay $800 million (€587 million) to buy the remaining stake.

August 10, 2011

Australia’s family-controlled shopping centre chain Westfield has acquired a 50% stake in a Brazilian family-owned company, as part of its move to enter fast growing emerging markets.

Australia’s family-controlled shopping centre chain Westfield has acquired a 50% stake in a Brazilian family-owned company, as part of its move to enter fast growing emerging markets.

Westfield, the world’s biggest shopping centre chain controlled by the Lowy family, said on 10 August that it has become joint owner of Almeida Junior Shopping Centre, owned by founder Jaimes Almeida Junior and his family.

May 26, 2011

Frank Lowy, founder of the world’s biggest shopping centre chain Westfield, has stepped down as chief executive of the company and will be succeeded by his two sons.

Frank Lowy, founder of the world’s biggest shopping centre chain Westfield, has stepped down as chief executive of the company and will be succeeded by his two sons.

In a statement made during the group’s annual general meeting on 25 May, Lowy announced that he will become non-executive chairman, while his sons Peter Lowy and Steven Lowy will become joint chief executive officers.

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