HAMMERSON’S £335m purchase of Grand Central shopping centre in Birmingham has been cleared by the European Commission.
The deal, originally announced in January, required approval because Hammerson is the co-owner of the nearby Bullring shopping centre.
The UK’s Competition and Markets Authority had decided not to pursue its own investigation in July.
Hammerson co-owns Bullring with Henderson Shopping Centre Fund and Canada Pension Plan Investment Board (CPPIB), and it has turned again to its Canadian partner for investment.
CPPIB has agreed to pay £175m for a 50% stake of Grand Central and that deal is now expected to complete next month.
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