By  on June 20, 2014

SYDNEY — The Westfield Group is restructuring its $66 billion retail empire.

Shareholders in Westfield Retail Trust, Australia's largest listed retail property trust, voted Friday to merge with the Australasian business of the connected but separately-listed Westfield Group. The merger will pave the way for the creation of two new independent companies that will manage the group's portfolio of 87 shopping centers in Australia, New Zealand, the U.S. and U.K., worth 70 billion Australian dollars, or $66 billion at current exchange. 

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