Westfield in talks to sell US malls

Wednesday, 22 May 2013
Westfield Group, the global mall operator, is in talks to sell seven US shopping centres. According to a published source in Reuters, the deal would be sold to private real estate investment company Starwood Capital Group.

The deal, which would be worth over 1 billion dollars, is still in its infancy. Westfield is currently the world's second-largest shopping mall owner.

The talks come a year after Starwood acquired a 90 percent stake in seven US malls and bought another from Westfield for a combined 1.15 billion dollars.