May 24 (Reuters) - Westfield Corp WFD.AX :
* UNIBAIL HAS SIGNED ON AS A PARTICIPANT IN ONEMARKET NETWORK AND WILL INITIALLY OWN 10% OF ONEMARKET BUSINESS
* ONEMARKET ASX-LISTED COMPANY WILL INITIALLY OWN A 90% INTEREST IN ONEMARKET BUSINESS WHICH WILL BE BASED IN SAN FRANCISCO
* UPDATES ON DEMERGER OF ONEMARKET
* ONEMARKET LIMITED, ASX LISTED COMPANY, WILL BE CHAIRED BY STEVEN LOWY
* BOARD WILL COMPRISE ILANA ATLAS, MARK JOHNSON AND BRIAN LONG
* DON KINGSBOROUGH WILL CONTINUE AS CEO AND WILL ALSO JOIN BOARD
* DIRECTORS UNANIMOUSLY RECOMMEND THAT SECURITYHOLDERS VOTE IN FAVOUR OF ONEMARKET DEMERGER RESOLUTIONS
* LOWY FAMILY IS ALSO VOTING IN FAVOUR OF DEMERGER
* WESTFIELD-IF ONEMARKET TRANSACTION APPROVED WESTFIELD SECURITYHOLDERS WILL RECEIVE A ONEMARKET SHARE FOR EVERY 20 WESTFIELD SHARES HELD ON THURSDAY