Australia's most prominent retail family may be preparing to abandon ship

Intelligent Investor

Independent Financial Research

Australia's most prominent retail family may be preparing to abandon ship. The Lowy family orchestrated a controversial restructure in June that spun off Westfield Group's Australian shopping centres into a new company called Scentre so it could concentrate on the higher growth shopping centres abroad. Freed from the slower growth Australasian assets and with foreign investors desperate to buy long-dated assets yielding anything above zero, Westfield Corporation is being touted as a takeover candidate. Its smaller size would also make it easier to bite off for the usual suspects, including large foreign property groups Simon Property Group and Unibail-Rodamco. The Lowy family already has a large amount of personal wealth invested outside Australia, so perhaps patriarch Frank and his chief executive sons Steven and Peter are also ready to diversify some more after distinguished careers at Westfield. Read the article: (VIEW LINK)

2 topics

Intelligent Investor
Intelligent Investor
Independent Financial Research

Intelligent Investor is an independent financial research service with a 14-year history of beating the market. Our value investing approach empowers Australians to make more informed decisions to build their long-term wealth. We off structural...


No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment