1 March 2013
Clifford Chance advises the Lowy Family Group on the A$663.7 million sale of its 7.1% interest in the ASX-listed Westfield Retail Trust.
Sydney: Leading international law firm Clifford Chance has advised the Lowy Family Group on the A$663.7 million sale of its 7.1% interest in the ASX-listed Westfield Retail Trust.
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 United States, the United Kingdom and Brazil, a portfolio valued at A$64.4 billion.
Partners Danny Simmons 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 are based in Sydney.
"We're delighted to have advised longstanding client the Lowy Family Group again," said Sydney partner Lance Sacks. "This is the most significant transaction in the Australian equity capital markets so far this year and we expect to see activity increase over the coming months."