Asset Management

Hammerson to raise £800m to recapitalise ailing business during pandemic

Hammerson previously said on 3 August it was 'in talks' over the potential sale but confirmed the deal alongside its half-year results

Hammerson will raise more than £800m to restore the shopping centre owner’s finances after Covid-19 caused the sums it collects through rents to plunge.

The owner of Birmingham’s Bullring plans to raise £551.7m through a rights issue, and a further £274m through the sale of its stake in VIA Outlets to Dutch pension fund giant APG. The sale of VIA will close in the fourth quarter if Hammerson has a successful rights issue.

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