March 29, 2018 / 8:34 AM / 5 months ago

Australian foreign investment regulator clears Unibail-Westfield deal

March 29 (Reuters) - Australia’s Foreign Investment Review Board has approved Unibail-Rodamco’s proposed $16 billion buy-out of shopping mall giant Westfield Corp, the companies said in a statement on Thursday.

Europe’s biggest property firm had in December offered to buy Westfield, in a defensive move to create a global leader in a sector grappling with the online shopping challenge led by Amazon. (Reporting by Chris Thomas in Bengaluru; Editing by Himani Sarkar)

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