Westfield Group has announced a $US4.8 billion ($A4.7 billion) joint venture over 12 assets in the United States with Canada Pension Plan Investment Board (CPPIB).
The company also has agreed to sell interests in three shopping centres in the United Kingdom (UK) for STG159 million ($A240 million).
"Today's announcement follows on from the strategic initiatives we have undertaken since November 2010, beginning with the establishment of the Westfield Retail Trust," Westfield's co-CEOs Peter Lowy and Steven Lowy said in a statement on Westfield.
"Since that time, we have expanded our operating platform globally and reduced our capital invested by entering into strategic joint ventures and disposals of non-core assets."
