Bullring centre owner sold for £3.4bn

08 Décembre, 2017, 01:01 | Auteur: Auguste Feret
  • Hammerson

For Hammerson, the deal would increase its dominance of large United Kingdom retail centres, add complementary Spanish assets, plus enhance earnings and net asset value.

Hammerson, which also owns the Bullring in Birmingham, has reached a deal with the shopping centre group, which also owns the Trafford Centre in Manchester, which Intu have said will create £21 billion pan-European portfolio - meaning they will be the largest United Kingdom group of this type. He said the deal would strengthen its portfolio and opportunities for growth, including in Spain and Ireland, two of Europe's fastest growing economies.

The group overall will have six directors nominated by Hammerson and four directors nominated by Intu.

"Bringing together the high-quality portfolios of both companies establishes Hammerson as a larger, leading European retail REIT, enhances shareholder returns and supports opportunities for long-term growth".

"The proposed deal will net the group a stake in nearly 60% of all United Kingdom supermall space, making it a force in the retail landscape, well placed to benefit from retail spend shifting across locations". Intu also operates the Trafford Centre in Manchester while Hammerson owns Bicester Village and Brent Cross shopping centre.

Hammerson also faces the risk an worldwide third party could show interest in making a bid for Intu, the broker said.

Ex-officer Slager gets 20 years for Walter Scott shooting
During tearful statements in court, several members of Scott's family said they forgave the officer and were praying for him. Slager is then heard on a police radio reporting a description of Scott before yelling, "Taser, Taser, Taser!"

Researchers at Oxford find the legend of Father Christmas is true
The bone that was analysed is a fragment from the pelvis, and is owned by Father Dennis O'Neill from IL in the United States . Since Father O'Neill's relic is from the left, this suggests that both bone fragments could be from the same person.

Ademola Lookman at the double as Everton finally win in Europa League
He has gone with an experimental side for the game and there are other Ireland-eligible players on the substitutes bench. With defenders in short supply, he may be asked to fulfil a similar role at the Tsirio Stadium on Thursday evening.

John Strachan, chairman of Intu, said: "Intu offers high-quality retail and leisure destinations in the United Kingdom and Spain, which, when merged with Hammerson's own top-quality assets in the United Kingdom, in France and in Ireland, present a highly attractive proposition for retailers and shoppers in Europe's leading cities".

The broker thinks it is a "sensible combination" and estimated cost savings from the deal should add about 5% to pre-tax profits of the merged group.

"This marks an exciting milestone in the history of Hammerson".

They agreed on "the terms of a recommended all-share offer by Hammerson to acquire the entire issued and to-be-issued share capital of Intu", they said in a joint statement. Intu's deputy chairman John Whittaker will be given the same role in the enlarged company, while its chairman John Strachan will join the board as senior non-executive director.

The combined group will be led by Hammerson chief executive David Atkins and Timon Drakesmith, the firm's chief financial officer, and will be called Hammerson plc.

"Hammerson is one of our preferred United Kingdom retail real estate investment trusts, but this is primarily due to its European diversification, and we continue to remain cautious on the short-and medium-term outlook for the United Kingdom", said Elston.

Conseillé:



Populaire

Who made the list?
An ankle injury slowed Love the last month of the season, but he still led the nation in rushes of at least 50 yards with 12. Along with the aforementioned McCaffrey and Gerhart, quarterback Andrew Luck finished second in 2011 and 2010.

FCG Advisors LLC Invests $259000 in Merck & Co., Inc. (MRK)
Currently, 175 million total shares are owned by the public and among those 173.51 million shares have been available to trade. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.08.

Hall of Fame QB Warren Moon sued for sexual harassment
Moon was named the the 1989 NFL Walter Payton Man of the Year, an award given to players for excellence on and off of the field. In May 1995, a Vikings cheerleader sued Moon and accused him of sexual harassment, alleging that he offered her cash for sex.

JoeyStarr insulte Matt Pokora après la mort de Johnny Hallyday
Comme de nombreux autres artistes, Matt Pokora a utilisé les réseaux sociaux pour rendre hommage à Johnny Hallyday mercredi. Si personne ne met en doute son émotion, beaucoup de monde se demande si ce décès ne va pas inspirer des idées à la star.

Messi demands Argentina improvement ahead of World Cup
LIONEL MESSI has dropped a huge hint he will retire from global football if Argentina flop at the World Cup. People want results and, if they don't get results, they want new faces ".

PSL 2018 Schedule Announced; Final To Be Played In Karachi
This edition of the T20 tournament will witness the inclusion of a brand-new team, the Multan Sultans . Pakistan Cricket Board has announced the schedule for the third edition of Pakistan Super League.

IIHS releases picks for safest cars of 2018
Over the last decade, vehicle safety has improved dramatically as automakers recognize that safety is a big selling point. Kia, Hyundai, and Subaru lead the pack for being the safest vehicles on the market.

Moscow says Russian Olympic ban created to sour pre-election mood
In any case, they won't be hard to recognize. "I woke up today and some guys in Russian Federation said we should back out". If you catch an athlete red-handed, then punish this athlete. "No anthem, either.

"Il y aura une rue Johnny Hallyday à Nice" — Christian Estrosi
En toute logique, le conseil municipal devrait valider les propositions du maire de la ville . Christian Estrosi, le maire de Nice, était l'invité de france Bleu Azur.

Instagram Direct is the pure Snapchat clone you've been waiting for
The Verge reports Instagram is now testing Direct in five countries: Chile, Israel , Italy , Portugal, Turkey, and Uruguay. So if you want to direct message someone, you won't be able to do it from the main app anymore with Direct installed.