March 16, 2020 / 6:47 AM / 18 days ago

BRIEF-Unibail-Rodamco-Westfield Announces Impact Of Coronavirus On Its Business

March 16 (Reuters) - WFD UNIBAIL RODAMCO NV:

* UNIBAIL-RODAMCO-WESTFIELD PROVIDES MARKET UPDATE ON IMPACT OF COVID-19

* URW WILL CAREFULLY MONITOR STATE OF AFFAIRS AND PROVIDE FURTHER UPDATES AS SITUATION WARRANTS

* GROUP’S CONVENTION & EXHIBITION BUSINESS IS ALSO SEEING AN IMPACT, WITH FRENCH GOVERNMENT CURRENTLY RESTRICTING ANY EVENTS OF MORE THAN 100 PEOPLE

* TAKEN MEASURES TO CONTAIN SPREAD OF CORONAVIRUS WILL IMPACT GROUP’S OPERATIONS

* GROUP’S OFFICES DIVISION IS NOT AFFECTED AT THIS POINT

* URW’S PRIMARY FOCUS IS NOW ON PROTECTING HEALTH AND SAFETY OF ITS EMPLOYEES, TENANTS, AND VISITORS

* ON CORONAVIRUS: IT IS NOT CURRENTLY POSSIBLE TO ESTIMATE EXTENT OF IMPACT ON GROUP’S EARNINGS

* TOO EARLY TO DETERMINE SITUATION’S IMPACT ON CONTRACTUAL OBLIGATIONS OF GROUP’S RETAILERS AND OTHER PARTNERS

* ACTIVELY REDUCING NON-STAFF EXPENSES, DEFERRING NON-ESSENTIAL CAPITAL EXPENDITURE AND WILL MAKE USE OF ANY RELEVANT FACILITIES OR ARRANGEMENTS PROVIDED BY VARIOUS NATIONAL AUTHORITIES TO ASSIST COMPANIES Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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