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Hammerson PLC - London-based retail-focused real estate investment trust - Completes the sale of Silverburn shopping centre in Glasgow, Scotland. Asset is sold via its 50/50 joint venture with Canada Pension Plan Investment Board to entities affiliated with UK private equity real estate manager Henderson Park and Spanish property developer Eurofund Group for GBP140 million. Hammerson's share is GBP70 million, according to a release made mid-December.
"Silverburn represents a fantastic opportunity to take a good centre and transform it into the leading asset in its catchment," says Ian Sandford, president of Eurofund, which will be the operating partner in the JV with Henderson Park.
Current London stock price: 33.51 pence, up 7.1%
12-month change: down 20%
Current stock price: ZAR6.51, up 4.5%
12-month change: down 24%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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