Hammerson sells minority stake in two French assets for €164m
The company is targeting £500m in disposals by the end of 2023 to strengthen its balance sheet and realign its portfolio
03 April 2023 - 20:24
Hammerson, the UK-based owner of premium retail assets in Europe, has sold its 25% stake in Italie Deux, a shopping centre in central Paris, and the adjacent 100%-owned Italik extension for €164m.
The sale to Ingka Centres represents a 4% discount to the December 31 book value and a net equivalent yield of 5%, with the sale proceeds to be used to reduce net debt...
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