Westfield has confirmed speculations that it is in “confidential negotiations” to split the shopping centres it owns and managers with AMP.

The Australian had reported on Saturday that Westfield was looking to divide its shopping centre portfolio with the financial services group.

Westfield released a statement confirming it is speaking with AMP in relation to a proposed asset relocation of shopping centre interests.

“The ongoing negotiations involve the existing portfolio of assets in which the AMP (including AMP managed funds), Westfield Group and the Trust have various ownership interests, however no binding arrangements have been entered into between the parties,” Westfield said.

“A further announcement will be made if these negotiations do result in binding arrangements between the relevant parties.”