In one of the biggest acquisitions in the South Pacific region, French property giant Unibail-Rodamco is about to buy Australia's Westfield shopping centres. A similar deal in the US wasn't as successful - GGP, one of the largest mall operators in America, rejected an offer from its shareholder. Enjoy the read and feel free to share.




Wednesday, 13 December 2017





Hello ,

In one of the biggest acquisitions in the South Pacific region, French property giant Unibail-Rodamco is about to buy Australia's Westfield shopping centres. A similar deal in the US wasn't as successful - GGP, one of the largest mall operators in America, rejected an offer from its shareholder. Enjoy the read and feel free to share.

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Asia & Australia


End of an era ▪ Shopping mall owner Westfield is set to be taken over in a deal worth US$ 15.7 billion by Europe's biggest property firm, Unibail-Rodamco. Westfield-founder Sir Frank Lowry will retire, marking the end to his 57-year reign as the "king of the mall". The combined company will operate more than 100 centres in 13 countries.



Following Alibaba ▪ Internet giant Tencent has purchased a stake in Yonghui, one of China’s largest supermarket chains, backed by investor JD.com. The move will step up its war with online powerhouse Alibaba, who has just partnered with the World Trade Organisation for a global e-commerce initiative.



Pulling the plug ▪ Germany's Metro has closed all its convenience stores in China less than two years after setting them up, claiming “drastic changes” in the business environment, including skyrocketing rents in major cities. Metro entered the Chinese market in 1996 and now operates more than 80 big supermarkets.




USA & Canada


Merger talks ▪ Chicago-based shopping centre owner GGP has turned down a US$ 14.8 billion offer from its biggest shareholder, Brookfield Property Partners, but negotiations remain active. Meanwhile, Canada's MTY Food Group is growing beyond mall food courts with the acquisition of restaurant company Imvescor.



Digital decisions ▪ Supermarket giant Kroger will begin accepting mobile payments through Chase Pay, the digital wallet offered by JPMorgan Chase & Co., in select markets next year. Discounter Target unveiled a new e-gifting feature on its website. Shoppers can pick out an item to be sent via email to a gift recipient.




Europe


Focus on discount ▪ Ukrainian multi-format retailer Fozzy Group is determined to grow its discounter banner 'Thrash', aiming to add ten more stores by Spring 2018 and continue this pace of expansion throughout the rest of the year. Footfall and revenue have increased at the Thrash chain, which was launched in 2016.



Kaufland gives in ▪ Lidl’s sister banner has announced to stop its grocery e-commerce venture in Berlin, citing that the service could not be provided in an economically viable way. When it started one year ago, the move was perceived as a game-changer with the potential to shake up the market.



Bankruptcy casualties ▪ Administrators at troubled wholesaler Palmer & Harvey have failed to sell part of the business, resulting in another round of redundancies. More than 400 people have already lost their jobs. About 450 people are still left in the remaining businesses at P&H.




Weird and wonderful


Vegetarian bargain ▪ Dansk Supermarked will provide customers with a vegetarian alternative to minced meat in all 600 supermarkets starting at the beginning of next year. The decision has been praised by the Vegetarian Association, claiming it to be a unique and sensational offer.



Try or buy ▪ Mobile app Try, downloadable from the Apple store, brings the fitting room to shoppers' home with a trial service from any online retailer. A similar service was started a couple of months ago by Amazon, called Prime Wardrobe, which allows members to order clothing without buying it.