Shopping centre group Westfield’s split of its Australian and New Zealand assets from its international operations has been backed by financial services firm KPMG.

Under the plan, Westfield’s Australian and New Zealand business, which includes 47 shopping centres, would merge with Westfield Retail Trust, a joint owner of the Australian shopping centres.

The merged entity will be called Scentre Group.

The international business, comprising shopping centres in the US and UK, will be known as Westfield Corporation.

KPMG, appointed by Westfield to provide an independent appraisal of the plan, has concluded the split is in the best interests of security holders.

Security holders are due to vote on the split on May 29.

AAP