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Shopping mall giant Westfield being sold to French real estate firm in $16-billion deal

Shopping mall giant Westfield being sold to French real estate firm in $16-billion deal

Westfield Corp., which operates upscale shopping malls in Los Angeles and in dozens of other U.S. cities and in Britain, agreed to be acquired for nearly $16 billion by French commercial real estate giant Unibail-Rodamco, the companies said Tuesday.

The deal underlined how even operators of marquee malls are not immune from the seismic shift occurring in retail, where consumers worldwide are increasingly moving more of their shopping to online sites such as Amazon.com and away from physical stores in malls and elsewhere.

Westfield, based in Australia, owns 35 malls, including its Century City shopping center, which recently completed

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