Westfield Group is reportedly in negotiations to sell seven of its US malls to US investment firm, Starwood Capital Group.

According to a report in The Wall Street Journal, the takeover deal is estimated to be worth more than $1 billion, with the report noting the negotiations were not yet in the final stages and “could still collapse”.

In April last year, Starwood acquired a 90 per cent stake in seven U.S. malls from Westfield for $1.05 billion.

At the time of the sale Peter Lowy, Co-CEO of Westfield Group, said the “announcement represents a further step in our strategic plan to increase return on equity and long term earnings growth”.

In March, the group sold a 49.9 per cent stake in six shopping malls in Florida to O’Connor Capital Partners for $US700 million.

Since 2010, Westfield has reportedly sold around $15 billion worth of mall assets.