Hammerson PLC (LON:HMSO), the struggling property company, responded to press speculation by confirming it is in talks to sell its retail parks portfolio.
The retail-focused real estate investment trust (REIT), which saw rental income collapse during the Coronavirus (COVID-19) pandemic in 2020, is in talks with Canadian private equity firm Brookfield Asset Management.
READ Hammerson bottom line gets a 'malling' but shares rise on news of strategic review
The company offered the usual get-out clause that there is no guarantee that the talks will lead to a disposal of the assets.
Hammerson has signed a deal to sell seven of its retail parks to Brookfield, a Canadian private equity firm for around £350 million. The sales will raise finances for the struggling property giant.
— Apex World News (@apexworldnews) April 12, 2021