Hammerson offloads Paris shopping centre interests for €164m
Hammerson
280.80p
08:04 18/11/24
0.07%
0.20p
Hammerson said it had sold its 25% stake in Italie Deux, a shopping centre in central Paris, and all of a separate extension for €164m to IKEA owner Ingka Centres.
FTSE 250
20,519.87
08:05 18/11/24
n/a
n/a
FTSE 350
4,463.96
08:05 18/11/24
n/a
n/a
FTSE All-Share
4,421.79
08:05 18/11/24
n/a
n/a
Real Estate Investment Trusts
2,139.99
08:05 18/11/24
-0.03%
-0.65
This sale represents a 4% discount to December 31 book value and a net equivalent yield of 5.0%, Hammerson said, adding that the cash would be used to strengthen its balance sheet and reduce net debt.
Together with the £195m of disposals completed in 2022, the group has generated total proceeds of £360m towards its target of £500m by the end of this year.
Reporting by Frank Prenesti for Sharecast.com