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UK mall operator Hammerson targets more than GBP500 million in asset sales

( February 25, 2019, 09:49 GMT | Official Statement) -- MLex Summary: Hammerson, the shopping-mall operator under pressure from activist investor Elliott, today said it intended to dispose of more than 500 million pounds’ worth of retail parks and other assets this year, adding that it was keeping an open mind about the “upper limit.” If the disposal program succeeds, the UK company said its net debt would fall below 3 billion pounds by year-end. Elliott has welcomed the “increased focus on strategic disposals.” The hedge fund raised its position in Hammerson to 5.27 percent in July.Excerpt from 2018 annual results follows....

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