BRIEF-Westfield says co entered agreements with Intu Properties to divest interests in 3 UK shopping centres

March 20 (Reuters) - Westfield Group WDC.AX :

* Entered into conditional agreements with Intu Properties PLC to divest its interests in three UK shopping centres for £597 million, in line with book

value

* Says divestment is expected to result in gross proceeds of A$1.1 billion to wdc

* Says prior to the redeployment of capital, the divestments are expected to reduce gearing by 2.1%

* Prior to redeployment of capital, divestments expected to have annualised dilutionary impact to group's FFO of approximately 2.0 cents per security

* Says agrees sale of UK regional centres - Merry Hill, Derby and Sprucefield

* Says agreements remain conditional at this time

* Transaction will not impact the proposed Scentre Group * Source text for Eikon News Search ID:nASXDps3Z

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