UK HIGH STREET NEWS
Hammerson in advanced talks regarding stake sale as it considers equity raise
3 August, 2020 | by Angela Beevers
Shopping centre owner Hammerson has confirmed that it is in advanced talks regarding the terms of a possible disposal of its 50% stake in VIA Outlets to its joint venture partner APG.
The company also said it is looking at a potential equity raise by way of a rights issue.
Hammerson has been hit hard by the coronavirus pandemic, but in today’s statement said footfall and sales continue to improve in its centres across Europe following their reopenings after lockdown. In addition, third quarter rent collection in the UK has increased to over 30%.
The company has recently secured approval for the issuance of up to £300 million under the Covid Corporate Finance Facility from the Bank of England.
