URW Partners with Norges Bank on Trinity Tower Sale

Unibail-Rodamco-Westfield SE Stapled Security Chess Depository Interests Repr 0.05 Sh (AU:URW) has released an update.

Unibail-Rodamco-Westfield (URW) has entered into an agreement to sell an 80% stake in the Trinity office tower in Paris to Norges Bank Investment Management, aiming to reduce its net debt by approximately €0.35 billion. This transaction, part of URW’s ongoing deleveraging strategy, is expected to conclude in the first quarter of 2025 and contributes to URW’s 2024 goal of completing €1.3 billion in transactions. The Trinity tower, a high-standard ESG-certified building, remains under URW’s asset and property management services.

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