APG Buys Out Hammerson on VIA Outlets and Participates in Hammerson Rights Issue
Posted on 08/09/2020
APG Asset Management N.V. acquired a 50% interest in VIA Outlets from its joint venture partner Hammerson PLC, a London-based retail real estate investment trust. APG will now own 100% of VIA Outlets, as it already owned 50% of VIA. The transaction price was £274 million. VIA Outlets is a fund created in 2014 to acquire existing outlet centers across Europe.
Hammerson has undertaken a rights issue to raise a further £550 million. APG is one of Hammerson’s largest shareholders with a 19.6% stake. APG has undertaken to take up its rights.
Law firm CMS has advised APG Asset Management on the transaction.
APG oversees Stichting Pensioenfonds ABP.
