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Retail property news

Lowy bows out, selling Scentre Group shares Sixty years after helping launch the first Westfield shopping centre in Blacktown, Sydney, Frank Lowy has sold off his shares in Scentre Group, finalising his exit from the Australian retail market.  The Lowy family’s 4.6 per cent interest, or 206.1 million shares, sold for approximately $815 million to investment bank UBS, which went on to offer the shares for a 1.3 per cent discount on last Wednesday’s closing price of $4.01, according to th