Australia's Westfield jumps 6 percent after plans to spin off Australian assets

SYDNEY Tue Dec 3, 2013 7:22pm EST

Westfield Group logo is seen at the top of a shopping mall in central Sydney November 3, 2010. REUTERS/Daniel Munoz

Westfield Group logo is seen at the top of a shopping mall in central Sydney November 3, 2010.

Credit: Reuters/Daniel Munoz

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SYDNEY (Reuters) - Australian shopping mall operator Westfield Group's WDC.AX securities jumped more than 6 percent on Wednesday after it announced plans to separate its global retail assets from its Australia and New Zealand businesses.

Westfield's Australia and New Zealand businesses will be merged with Westfield Retail Trust (WRT) WRT.AX to form a new company, Scentre Group. Its international assets will stand alone as Westfield Corp, the company said.

Westfield securities jumped 6.2 percent to A$11.00 by 0007 GMT, while WRT rose 3.3 percent to A$3.10. The broader market was down 0.2 percent .AXJO.

(Reporting by Maggie Lu Yueyang; Editing by Kenneth Maxwell)

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