Simon Property Group, the biggest U.S. mall operator, will cut its purchase price for an 80% stake of rival Taubman Centers by 18%, both companies said on Sunday, as the coronavirus upends the retail industry sector.
Shareholders of under-pressure UK property firm Hammerson have voted in favour if its rescue plan that includes a right issue valued at £525 million and the £274 million sale of its stake in the VIA Outlets business
UK malls giant Hammerson on Monday confirmed press peculation that it’s in “advanced discussions on the terms of a possible disposal of its 50% interest in VIA Outlets to its joint venture partner APG”.
Simon Property Group Inc, the biggest U.S. mall operator, said on Wednesday it was ending its $3.6 billion deal to buy Taubman Centers Inc, citing the beating the retail sector has taken during the Covid-19 pandemic.
Malls giant Hammerson said Monday it has received “a variety of requests for rent deferrals, which we are reviewing on a case-by-case basis” across its properties in the UK, Ireland France and other European countries.