Westfield's split signals a shift to an offshore focus

The proposed restructure of Westfield will allow it to tap into a broader range of investors with different risk appetites, and hints at the Lowy family's stronger interest in its offshore businesses.

Westfield has always had an unusual willingness to adapt its corporate structure to its environment, with that structure undergoing regulatory and radical transformations over more than half a century of its listed existence. Today, the Lowys announced the latest (and perhaps the final) phase of an evolution that has been accelerating since the financial crisis.

Frank Lowy and his sons have long demonstrated an unmatched level of pragmatism towards Westfield’s corporate form.

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