(Alliance News) - Hammerson PLC has agreed to sell its retail parks in the UK to Toronto-based property and private equity firm Brookfield for GBP350 million, in order to pay down debt, the Sunday Times reported without citing sources.
The seven retail parks in England, Scotland and Wales are in Falkirk, Didcot, Middlesbrough, St Helens, Telford, Merthyr Tydfil and Rugby, the newspaper said.
https://www.thetimes.co.uk/article/hammerson-sells-retail-parks-to-canadian-giant-brookfield-for-350m-vh56ccn68
Last month, London-based Hammerson revealed its pretax loss more than doubled to GBP1.73 billion in 2020 from GBP779.3 million in 2019. Net debt totalled GBP2.23 billion on December 31.
By Tom Waite; thomaslwaite@alliancenews.com
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Hammerson (HMSO)