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Hammerson offloads Value Retail stake for £1.5bn
The group intends to use the disposal proceeds to reduce net debt, reinvest into assets in its core markets at higher yields and stronger returns, and to return capital to shareholders
Hammerson will be disposing of its entire interest in Value Retail – the Bicester Village owner – to Silver Bidco Limited, a Jersey-based company established by affiliates of L Catterton, for £1.5bn to generate cash proceeds of about £600m.
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