Westfield Sells Stake in Merry Hill, Forms Joint Venture with QIC

Skadden, Arps is representing Westfield Group, a developer and manager of real estate and shopping malls, (as co-counsel) with the tax aspects of its US$1 billion sale of a 50% stake in the Merry Hill shopping center in the United Kingdom and the establishment of a joint venture with Queensland Investment Corporation to manage the shopping center.  Both Westfield Group and Queensland Investment are based in Australia.