Grand Central joint venture regulatory clearance

RNS Number : 7411P

Hammerson PLC

21 November 2016

 

Hammerson plc

21 November 2016

Grand Central joint venture regulatory clearance

Hammerson and Canada Pension Plan Investment Board have been informed that the acquisition of Grand Central, Birmingham, by the 50:50 joint venture between the two parties has been cleared to proceed, pursuant to the Merger Regulation of the European Commission.

Having received clearance, the joint venture transaction and Hammerson's disposal of 50% of Grand Central for £175 million, as previously announced, is anticipated to close by mid-December.

For further information:

Rebecca Patton, Head of Investor Relations

020 7887 1109

Note: the announcement above has also been released on the SENS system of the Johannesburg Stock Exchange.

Notes to Editors

Hammerson is a FTSE 100 owner, manager and developer of retail destinations in Europe. Our portfolio of high-quality retail property has a value of around £9 billion and includes 22 prime shopping centres, 18 convenient retail parks and investments in 15 premium outlet villages, through our partnership with Value Retail and the VIA Outlets joint venture. Key investments include Bullring, Birmingham, Bicester Village, Dundrum Town Centre, Dublin and Les Terrasses du Port, Marseille. 

 

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