Hammerson’s CEO David Atkins is yet again not happy with Klépierre’s latest takeover offer. Image: Hammerson
Investment

Takeover-wave in the international shopping center industry

Hammerson, the British real estate group, rejected yet another takeover offer by the French Klépierre Group, as the industry in general seems to be particularly interested in mergers right now.

The British shopping center specialist Hammerson has rejected a new and improved takeover offer by Klépierre. On Wednesday in London, the Brits announced that Klépierre now offers 635 Pence per Hammerson-share, half in cash and half in their own new shares. This puts the value of Hammerson at 5 billion British pounds (5.7 billion euros).

The British company’s management considers this offer to be not nearly enough. The company currently has interests in 22 shopping centers in Great Britain, Ireland, and France. The portfolio also comprises 15 retail parks as well as 20 outlets.

“Our strategy and the positioning of our portfolio continue to deliver a strong operational performance. Our attractive high-growth markets of Premium Outlets and Ireland are driving valuation growth and we are on track with our disposal programme,” said David Atkins, Chief Executive of Hammerson a few days ago at the publication of the latest quarterly report.

At the same time, Hammerson wants to take over its British competitor intu for approximately 3.4 billion euros.

Unibail-Rodamco covets Westfield

But also other executive boards within the industry seem to get ready for several significant moves. In this current takeover-wave in the international shopping center industry, the investor Brookfield Property is about to take over the GGP, the US-based shopping center operator, and French Unibail-Rodamco is interested in buying the Australian Westfield company.


Sign up for our ACROSS Newsletter.    Subscribe to ACROSS Magazine.


Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Investment MORE

RETAIL INVESTMENT: WIDENING GAP BETWEEN EUROPE’S RETAIL MARKETS

The Union Investment index analyses the attractiveness of the top 17 markets.

Union Investment reduces the retail share of immofonds 1

The reason is the competition from online retail. Residential and logistics assets, in return, will be increased.

News in Sweden, Spain and Poland – VIA Outlets Develops Portfolio

VIA Outlets is continuing the transformation of its portfolio across Europe. An expansion and remodeling program of €29 million, focusing on three outlets in Sweden, Spain, and Poland, began last autumn to help increase the overall guest experience and better position the outlets as premium shopping destinations across Europe.

Entering India

Ingka Centres, formerly IKEA Centres, unveils a major new strategic vision that will see it invest €5.8 bn over the next three years – and sets off for the Indian subcontinent.

An 8-year Acquisition Term

Helaba finances Atrium European Real Estate’s purchase of Wars Sawa Junior for EUR 170 million. The shopping center, located in the Polish capital, comprises 26,000 sq m of retail space.

Man of the Year: René Benko. The Real Estate Tycoon

A self-made man who set out to form a European format omnichannel provider.