Dundrum centre co-owner Hammerson to divest more assets

British shopping centre operator is seeking to cut more debt

Dundrum Town Centre. Photograph : Matt Kavanagh

Dundrum Town Centre. Photograph : Matt Kavanagh

 

British shopping centre operator Hammerson said on Monday it would look into disposing more assets to cut debt and entered into an agreement with US activist investor Elliot Advisors.

Hammerson, which owns the Dundrum Town Centre with German insurer Allianz, as well as the Ilac Centre in Dublin, the Pavilions in Swords and the Kildare Village outlet, said it would look to dispose more than £500 million (€575.6 million) of assets in 2019, adding that it was in active discussions on deals with a total value of over £900 million.

The company also has significant assets in France and the UK.

The company also said it has entered an agreement with Elliott Advisors and the activist investor confirmed its support for Hammerson’s accelerated disposal programme and decision to expand its board. – Reuters