URW strategic asset sale

Unibail-Rodamco-Westfield (ASX:URW) has announced the sale of an 80% stake in the Trinity office tower to Norges Bank Investment Management. This transaction, valued at approximately €0.45 billion, will reduce URW's net debt by €0.35 billion. The deal is expected to complete in the first quarter of 2025, supporting URW's strategy to reduce debt through asset disposals.

Overview and future outlook

Unibail-Rodamco-Westfield's sale of an 80% stake in the Trinity office tower is a strategic move to reduce its net debt by €0.35 billion, aligning with its goal to secure €1.3 billion in transactions throughout 2024. The deal with Norges Bank Investment Management not only strengthens URW's financial position but also maintains its asset management role. This transaction is a part of URW's broader strategy to engage in further asset disposals and reflects its commitment to sustainability and high ESG standards. With the completion anticipated in early 2025, URW continues to focus on its core objectives of deleveraging and enhancing operational efficiency.

Executive insights on the transaction

This transaction demonstrates our commitment to reducing our debt and strengthening our financial position. The strategic partnership with Norges Bank Investment Management allows us to leverage our asset management expertise while advancing our deleveraging strategy.