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Australia's Westfield sells 5 US malls for US$1.1b as part of divestment plans

Proceeds will reduce debt, fund development
Tuesday, December 22, 2015 - 05:50

Sydney

AUSTRALIAN shopping centre giant Westfield Corp said on Monday it has offloaded five US malls for US$1.1 billion as it continues its strategy of divesting non-core assets.

The company, one of the world's largest shopping centre operators, will use the proceeds to reduce debt