Hammerson buys Intu
UK shopping centre owner Hammerson plc has entered a deal to buy smaller retailer investor Intu Properties plc for £3.4 billion to create a £21 billion business.
The deal is expected to be completed in the fourth quarter next year and will involve £2 billion of portfolio rationalisation.
Europe Real Estate, 7 December 2017: Hammerson merges with Intu to create €23.8bn pan-European REIT
The Guardian, 7 December 2017: Hammerson snaps up shopping mall rival to become UK’s top property firm
Ping An lifts stake in HSBC
Shenzhen-based financial conglomerate Ping An Insurance Co Ltd has lifted its stake in Hong Kong-listed bank HSBC Holdings plc to 5%. US private equity manager The Blackstone Group LP holds 6.74%.
Asia Times, 7 December 2017: Ping An now second largest shareholder of HSBC
Attribution: Europe Real Estate, Hammerson, Guardian, Asia Times