Hammerson has agreed to sell its stake in Value Retail Group, the operator of luxury shopping centres, including Bicester Village. The deal will bring £600m, which it will use in part to further develop The Bullring and the other shopping centres it owns.
The acquiring business is Silver Bidco, a firm established by affiliates of L Catterton. Michael Chu, global Co-CEO of L Catterton, said: “With its high-quality portfolio, reputation for luxury, and commitment to delivering a distinctive experience to customers, Value Retail is well positioned for growth and continued success.”
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