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2018-07-25

Evening Standard: "Investors could push for Hammerson's break-up, says Russell Lynch"




Link to web site

"Hammerson boss David Atkins went shopping at Brent Cross with his mum when the centre first opened in 1976, but the chances are that he'll be pushing 60 before the extension to north London’s shopping hub is finally open.

"The 52-year old's decision to 'defer' the £1.4 billion project looks like good sense in the current climate of caterwauling retailers, administrations and rent-slashing CVAs but investors will be looking askance at the rest of the strategy he unveiled today.

"Let's not forget Atkins had some work to do here after one of the most humiliating corporate retreats in recent times, when it abandoned its planned merger with Intu and even told its shareholders to vote against a deal it was proclaiming from the rooftops just weeks earlier."

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