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I doubt they'll splash on new shopping centres. They'll likely use it to resolve existing debt, and reinvest in their core projects.
Share buyback would be a good option.
If the sale goes through what do you think they’ll with the £1 billion? Buy more shopping centres? Or could they do a share buyback? What’s everyone thinking
Good find Bubbleshoot and we now have the identity of who is behind the conversations for Value Retail.
LVMH and Bernard Arnault can afford it irrespective of whether its £1.0Billion or £1.2Billion and its the villages are good staging posts for his high end fashion brands.
I hope HMSO do hold out for the higher of the two valuations and the New York village is taking shape nicely on the webcam.
https://www.valueretail.com/value-retail/en/villages/belmont-park-village
Don’t give in price manipulation, hold the line!
No update, but an article from https ://www.bisnow.com/london/news/retail/lvmh-and-arnault-backed-investor-eye-stake-in-bicester-village-owner-121963
A private equity firm backed by LVMH and the family office of its founder is in conversations about buying a stake in the company that owns Bicester Village.
L Catterton has held talks with Hammerson, which is selling a 40% stake in Value Retail for £1B to £1.2B, React News reported.
There is no certainty of a deal being done, and talks have been on and off, with L Catterton offering less than the £1.2B Hammerson is looking for, according to React.
Any deal would see an investor backed by one of the world’s biggest luxury retail owners take a stake in a business that has built its fortune on discounted high-end fashion sales, with a strong focus on tourist shoppers. The family office of LVMH founder Bernard Arnault is also a backer of L Catterton.
Bicester Village in Oxfordshire is focused on upscale and luxury retail and is often cited as achieving the highest sales per SF of any retail scheme internationally. Retailers have tended not to open other designer outlet stores in the south of England.
The 245K SF outlet centre 65 miles north-west of London is estimated to be visited by up to 80% of the roughly 350,000 Chinese visitors to the UK every year. The platform at Marylebone station, from which trains to the nearest town depart, has signs and announcements in Mandarin, and Bicester Village employs about 150 Mandarin speakers.
It receives 7 million visits annually, attracting shoppers from Middle Eastern royals to the average bargain hunter.
Value Retail also has locations in Shanghai and Suzhou in China that are branded under the Bicester Village name. It also has centres in cities like Barcelona, Frankfurt, Madrid and Milan.
Belmont Park Village in New York is scheduled to open next summer.
Hammerson upped its stake in Value Retail in February 2018 with a £76M investment as it focused on growing its premium outlet business, but earlier this year, CEO Rita-Rose Gagné said that investment was no longer envisaged as a long-term hold.
Value Retail’s other shareholders include founder Scott Malkin, U.S. retail giant Simon Property Group and Dutch pension fund APG, none of whom are bidding for Hammerson’s stake, React reported.
That’s so bullish
Prada's Bicester outlet
A private equity firm backed by LVMH and the family office of its
founder is in conversations about buying a stake in the company that
owns Bicester Village.
L Catterton has held talks with Hammerson, which is selling a 40%
stake in Value Retail for £1B to £1.2B, React News reported. Not sure if any update on this?
Not as big as some of the recent days but its into the 28's again and it does seem to be following an upswing in the general market sentiment.
Another big volume day
When analysts say sell you should buy
Mr.Picky
25% raise. That's quite bullish
Should we be expecting "Q3 trading, operational and rent collection update" again.
Last year this came around in November.
Yes they did but....
Goldman Sachs raises Hammerson price target to 15 (12) pence - 'sell'
Not exactly bullish !
Goldman Sachs raises Hammerson price target
Hammerson plc ("Hammerson")
Since H1 2023, Lighthouse has disposed of c. 203 million Hammerson shares at an average price of 27 GBP pence per
share, raising the equivalent of c. EUR 63 million in cash. These proceeds are intended to be reinvested in yield-accretive
retail investments in Iberia.
Lighthouse's holding in Hammerson has reduced from 22.05% to 17.98%. Following the disposal of Hammerson shares
Lighthouse's indicative LTV is 15.1%.
No idea who bought HMN shares....my guess and only a guess is Simon Group ?
Who is the purchaser of 98million shares?
Thanks Gazza... so after a week we still don't know who gobbled 7mil of shares
Lighthouse paper handing their position in HMSO. Embarrassing
Shareholders are advised that at 29 November 2023, Lighthouse had disposed of 98 051 120 shares in Hammerson.
I don't see why the LSE doesn't. Rather odd. We get updates on the JSE sens and I receive updates from HMSO themselves. Their PR dept sends out.
Gazza,
Does that mean we should get an RNS informing us of who the buyer is?
I RC sorry if I missed something in the thread but Lighthouse Reit has been unwinding their position in HMSO. Sold according to official reports around 98m last week. The buyer will be of interest though...maybe SPG?
Naked shorting?
I'm interested in your thoughts/words...
Now guess what you just witnessed yesterday amidst that 77 Million worth of volume that just materialised yesterday out of thin air and without even hardly a blink in the share price? Moving up again today on much much smaller volume.
Several words come to mind but I'll keep them to myself.