Bullring owner Hammerson raises cash after Covid hit

Bullring owner Hammerson is to raise new finance

Retail property giant Hammerson is considering a rights issue and is in talks about an asset sale as it seeks to recover from the impact of the coronavirus pandemic.

Hammerson, owner of shopping centres such as Birmingham’s Bullring and London’s Brent Cross, did not reveal how much equity it may raise, but Sky News has reported it may be as much as £600m.

As well as confirming that it is pondering a rights issue, Hammerson said it is in advanced discussions about the possible sale of its 50% stake in VIA Outlets, which runs premium outlet centres in Europe.

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