Westfield Corp. said it has filed orders of the Supreme Court of New South Wales for the company's US$15.68 billion sale to Unibail-Rodamco SE and the demerger of its OneMarket Ltd. platform, making both schemes effective.
The orders were lodged with the Australian Securities and Investments Commission, which means the transactions will be implemented, as planned, June 7.
Westfield's shares cease trading from the Australian stock exchange May 30, while Westfield's retail technology company OneMarket will debut on the bourse the next day on a deferred settlement basis.
The retail landlord giant, which has presence in the U.S., U.K. and in New Zealand and Australia through its Scentre Group spinoff, listed in Australia in 1960.
Separately, Unibail-Rodamco-Westfield, a group created for the merger and is composed of Unibail and WFD-Unibail-Rodamco NV, was admitted to the official list of the bourse as an ASX Foreign Exempt Listing. The category means that the group is primarily regulated by the Euronext Paris and Euronext Amsterdam and is exempt from complying with most of the Australian bourse's rulings.
The chess depositary interests of the merged group will commence trading in Australia May 31.
