By Frank Prenesti
Date: Monday 03 Apr 2023
LONDON (ShareCast) - (Sharecast News) - 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.
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
Email this article to a friend
or share it with one of these popular networks: