.
As Westfield Group (ASX:WDC) try to lift earnings hit by the rising Aussie dollar, reports have emerged that the retail giant might be selling up to $8billion worth of assets in the US.
The group, which has a portfolio of 119 regional shopping centres in Australia, New Zealand, the UK and the US, currently has assets valued at $36billion on its balance sheet.
But Head of property at JP Morgan, Rob Stanton, told the Australian that further asset spin-offs, like the sale of up to 15 per cent of its US assets, could revive its earnings outlook. He says the group is likely to shift more real estate off its balance sheet.
Westfield Group posted a full year net profit of $1.1 billion to December 31, 2010.
