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Lowy sells Westfield interest
Clifford Chance has advised on the $663.7 million sale of interest in the ASX-listed Westfield Retail Trust.
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Deal: Sale of the Lowy Family Group’s 7.1 per cent interest in the ASX-listed Westfield Retail Trust
Area: ECM
Value: $663.7 million
Key players: Partners Danny Simmons (pictured) and Lance Sacks led the team advising the Lowy Family Group, assisted by senior associate Kane Barnett. Senior associate Laura Sheridan Mouton also assisted on US law-governed aspects of the transaction. All lawyers are based in Sydney.
Deal significance: The head of the Lowy Family, Mr Frank Lowy, is the co-founder and current chairman of the Westfield Group, which has interests in and operates over 100 shopping centres in Australia, New Zealand, the US, the UK and Brazil – a portfolio valued at $64.4 billion.