// Hammerson and APG acquire 50% stake in Via Outlets
// Each company now has a stake worth £1.5 billion
// Hammerson and APG bought the shares for £29.2 billion
Hammerson and Dutch pension fund asset manager APG have acquired a 50 per cent stake each in European premium outlet owner Via Outlets, following their buyout of partners Value Retail and Meyer Bergman.
Each company now has a stake worth €1.6 billion (£1.5 billion) in the outlet business, after each increasing their stakes by more than three per cent.
Hammerson and APG bought the shares for €32 billion (£29.2 billion) from former operating partners Value Retail and Meyer Bergman.
Via Outlets chief executive Otto Ambagtsheer had been promoted from the position of chief operating officer ahead of the sale.
The outlet business was established in 2014 to acquire and manage existing outlet centres across Europe.
”Our investment in Via Outlets is a major differentiator for Hammerson, as this is a sector which continues to deliver value creation, as well as significant growth in brand sales and footfall,” Hammerson chief executive David Atkins said.
“The management team at Via Outlets has a clear strategy to attract new brands and deliver further extensions which will capitalise on the increased spending we are seeing in the market, and the low online penetration in this sector.
“This transaction also streamlines the ownership structure of Via Outlets, and enhances the governance of this strategically important business unit.”
Via Outlets operates 11 centres across nine European countries.
Last year it reported a nine per cent rise in brand sales to €1 billion (£976 million) and a four per cent increase in footfall on the previous year to 30 million people.