Hammerson plc 's Subsidiaries Announce Acquisition Of Capital & Regional PLC's 13.43% Interest In The Junction Fund

Capital & Regional PLC announced that subsidiaries of Hammerson plc have acquired The Junction Fund, in which the Group had a 13.43% interest. The headline price for the properties in the transaction, prior to deductions for rent frees and certain capital expenditure commitments, is GBP259.5 million (100% of the Fund), or GBP34.85 million for the Group's share. The Junction Fund is a specialist retail park fund, owning four retail parks and two separate development sites, which were valued at GBP266.7 million at September 30 , 2012. Capital & Regional was the property and asset manager for the Fund and this role has been terminated as a consequence of the transaction. Morgan Stanley & Co Ltd acted as financial advisor, and Cushman & Wakefield and Wilkinson Williams acted as property advisors to the Junction Fund investors in respect of this transaction.