The transaction resulted in the de-stapling of URW's stapled shares, which consisted of ordinary shares in Unibail-Rodamco-Westfield SE and class A shares in Unibail-Rodamco-Westfield N.V. Following the completion of the reorganisation, Unibail-Rodamco-Westfield SE became the sole listed entity on Euronext Paris, while shareholders retained the same economic exposure. By replacing its dual-listed share structure with a single listed entity, URW has simplified its corporate organisation, creating a clearer and more efficient framework to support the group's long-term business strategy.

Our team advised URW on the Dutch tax aspects of the matter, drawing on our extensive experience in Dutch corporate tax and international group restructurings.

The reorganisation was completed on 25 June 2026 following a series of corporate steps and marked the end of the innovative stapled share structure that had been introduced in connection with URW's acquisition of Westfield in 2018.