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BRIEF-Hammerson, CPPIB sign JV over Grand Central shopping centre
February 12, 2016 / 7:17 AM / 2 years ago

BRIEF-Hammerson, CPPIB sign JV over Grand Central shopping centre

Feb 12 (Reuters) - Hammerson Plc :

* Hammerson completes acquisition of Grand Central, Birmingham, and signs joint venture with CPPIB

* Entered into a 50:50 JV with Canadian Pension Plan Investment board for ownership of Grand Central, with Hammerson acting as asset manager on behalf of joint venture

* Joint venture pricing terms are equivalent to terms for Hammerson’s acquisition of shopping centre

* Following completion of joint venture, Hammerson’s total acquisition costs for 50 pct of Grand Central will be £175 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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