Hammerson plc R.E.I.T. (GB:HMSO) has released an update.
Hammerson plc has successfully completed the sale of its interest in Value Retail to Silver Bidco Limited, a move that injects approximately £600 million in cash. This significant financial boost positions the company to expedite its growth strategy, focusing on organic investment, consolidation of assets, and strategic land value realisation. The deal not only strengthens Hammerson’s balance sheet by reducing leverage but also paves the way for an upcoming share buyback program, bolstered by recent credit rating upgrades.
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