REAL ESTATE
Intu takeover set to put Hammerson on top of JSE
The Hammerson deal bumps Nepi Rockcastle to second place in terms of property firms by size on the JSE
Hammerson is set to regain its position as the largest property company on the JSE if it succeeds with its takeover of Intu Properties to become a real estate giant with a £7bn (R126bn) market capitalisation. South African investors would then have exposure to a large, highly liquid real estate group that paid returns backed by hard currency and was run by one of the best-rated European management teams, according to Meago Asset Management’s Jay Padayatchi. Based on Wednesday’s market close, the deal would result in Hammerson bumping eastern European real estate group Nepi Rockcastle, which has a R122bn market capitalisation, to second place in terms of property firms by size on the JSE. The board of Hammerson, which owns high-quality shopping centres in western Europe, and the board of Intu, which owns top-rated retail assets in the UK and Spain, announced they had reached an agreement. They agreed on "the terms of a recommended all-share offer by Hammerson to acquire the entire is...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.