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Scentre Group

June 20, 2014

Multi-billion dollar family-controlled shopping mall chain Westfields has only just gained enough shareholder votes to split the group into two independent companies.

Multi-billion dollar family-controlled shopping mall chain Westfields has only just gained enough shareholder votes to split the group into two independent companies.

Westfield Group currently has 87 properties across Australia, New Zealand, the United States and the United Kingdom, but under the restructure the business’s Australasian assets will merge with the Westfield Retail Trust (WRT) to form the Scentre Group.

The split leaves Westfield Group, controlled by the Lowy family, to focus on its international business.

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