L Catterton completed the acquisition of a 42% stake in Value Retail from Hammerson for £600m.

L Catterton, the private equity firm backed by French luxury fashion house LVMH, completed the acquisition of a 42% stake in Value Retail, an outlet mall landlord, from Hammerson, a shopping centre owner, for £600m ($775m). "This is a significant moment for Hammerson. Three years ago, we promised a turnaround of the business and today's completed Disposal means it has now been delivered. The Disposal immediately deleverages our business and opens up an exciting new era for Hammerson, focused on accelerating growth whilst maintaining our operational grip and financial discipline. Encouraged by a strong operational performance over summer, I am excited that we are now firmly on the front foot and ready to build on our growing momentum and proven track record over recent years," Rita-Rose, Hammerson CEO.