Unibail-Rodamco-Westfield launches plan to reset business

By Sam Kerr
17 Sep 2020

Unibail-Rodamco-Westfield, one of the world's largest owners of shopping malls, launched a €9bn-plus turnaround plan on Thursday, which includes a €3.5bn rights issue. The aim of is to reduce its leverage to help it withstand the Covid-19 pandemic.

Bank of America, BNP Paribas, Crédit Agricole, Goldman Sachs, JP Morgan and Société Générale are global coordinators on the rights issue, which has been underwritten on a standby basis.

The reorganisation, which the company is calling a “reset”, will allow it to ...

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