Hammerson respond to press speculation

Hammerson plc (LON:HMSO) has noted recent press speculation.

As highlighted at the Company’s Half Year results in August, disposals of non-core assets remains a near-term priority to continue to strengthen the balance sheet, re-balance the portfolio and to enable the group to re-cycle capital for investment.

The Company confirms that it is in discussions on terms of a possible disposal of Silverburn, its flagship destination near Glasgow, which is held in a 50/50 JV with CPPIB.

There can be no certainty that a transaction will take place, but Hammerson confirms the pricing under discussion is £140m, which would represent a class 2 transaction. The Company will provide a further update in due course, if appropriate.

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