Hammerson sells 50% stake in VIA Outlets to APG for € 301 million

by   CIJ News iDesk VII
2020-08-07   14:58
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Hammerson, a shopping center operator in the United Kingdom, has sold its 50% stake in VIA Outlets, including two in Spain to the Dutch APG pension fund. The Dutch firm will pay €301 million for its stake, which will make it the sole owner. That's believed to represent a discount of 18.7% to the current market value of VIA Outlets' assets. The transaction is still subject to approval by Hammerson shareholders and by competition authorities. VIA Outlets operates eleven assets in nine European countries, totaling more than 267,000 square meters of floor space and more than 1,130 stores. In Spain the firm has two assets: Sevilla Fashion Outlet and Mallorca Fashion Outlet. At the end of June, the value of VIA Outlets' assets amounted to approximately €1,550 million.