June 20, 2014 / 1:32 AM / in 4 years

Australia's Westfield gets shareholder vote to split

SYDNEY, June 20 (Reuters) - Australia’s Westfield Group , the world’s biggest retail property group, was cleared to split its business along geographic lines after shareholders voted in favour of the move at a meeting on Friday.

The Sydney-based group, headed by Australia’s second richest person Frank Lowy, can now press ahead with its plan to put its international portfolio into a new company called Westfield Corp while combining its Australasian property and property management businesses under the name Scentre.

Shareholders with 76.09 percent of Westfield shares voted in favour of the split, a Westfield spokesperson told Reuters.

Reporting By Byron Kaye; Editing by Stephen Coates

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