"Reset".
This is the name of the plan unveiled Wednesday evening by the shopping center giant Unibail Rodamco Westfield (the Forum des Halles in Paris, Les 4 Temps in La Défense, La Part-Dieu in Lyon).
The group is looking for financial leeway in an uncertain context for commercial and office real estate.
To get back on a good footing, the group battered on the stock market and weakened by the Covid, wants to release 9 billion euros to strengthen its balance sheet.
Read also:
Unibail-Rodamco-Westfield wants to massively increase its capital
The capital increase carried out on Wednesday contributes 3.5 billion euros.
URW plans for 4 billion euros of disposals by the end of 2021: European assets, half in offices and half in retail.
Six billion in transferable assets have been identified.
Dividends will also be limited over the next two years, which will represent savings of one billion euros.
"Prudent management"
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As announced on July 29, URW's immediate priority is to alleviate its debt, mainly through disposals
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