Westfield Trust settles acquisition of Westfield Shoppingtowns Parramatta and Liverpool

20 December 1999

Countries: Australia

Westfield Trust today announced that it had settled itsacquisition of the remaining 50% interests in WestfieldShoppingtowns Parramatta and Liverpool, both in Sydney, fromRodamco for $A536 million.

The settlement follows Westfield Trust’s announcement inSeptember this year that it had reached an in-principle agreementto acquire these assets.

As a result of the transactions, Westfield Trust’s total assetshave increased to $6.4 billion.

Westfield Managing Director Steven Lowy said,

“These are premium quality assets that are expected to producesound income and capital growth. These acquisitions highlightWestfield Trust’s commitment to investing in high quality retailproperty.”