Hammerson PLC - London-based real estate investment trust focused on city-centre shopping centres in the UK and elsewhere - Completes the acquisition of the remaining 50% stake in Westquay for £135 million. This gives the company a 100% interest in the retail and leisure destination situated in the heart of the South Coast. Says the consideration will be funded by the proceeds received from its recent disposal of its stake in Value Retail PLC.
‘This transaction is in line with our stated strategy,’ Hammerson Chief Executive Offcier Rita-Rose Gagne says. ‘Combined with our recently enhanced funding position and disciplined approach to capital allocation, we are well placed to deliver growth and value creation.’
Current stock price in London: 293.60 pence, up 1.7% on Thursday morning
12-month change: up 21%
Current stock price in Johannesburg: R 67.00, up 1.1%
12-month change: up 24%
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