Global law firm Freshfields advised Morgan Stanley & Co. International plc (as global coordinator, financial advisor and joint bookrunner) and Investec Bank Limited and Peel Hunt LLP as joint bookrunners, on the placement of 48.3 million ordinary shares in Hammerson plc (Hammerson), expected to raise approximately £139 million.

The capital raised will be used to partly fund the proposed acquisition of the remaining 50% stake in the Birmingham Bullring & Grand Central Shopping Centre currently held in a joint venture with Canada Pension Plan Investment Board (CPPIB), by way of an acquisition in CPPIB’s interests in the entities that hold the relevant assets.

Hammerson is dual listed on the London Stock Exchange, Euronext Dublin and the Johannesburg Stock Exchange. The placement involves the allotment of placing shares to placees on both the London Stock Exchange and, subject to approval from the South African Reserve Bank, the Johannesburg Stock Exchange on a deferred settlement basis.

Hammerson is a major British property development and investment company, with a portfolio including Brent Cross, Bullring & Grand Central and Cabot Circus.

The Freshfields team was led by partner Tom Godwin and senior associate Egor Marisin, alongside associates Isabella Coutts and Kat Wade. Tax advice was provided by counsel Rose Swaffield. US law advice was provided by counsel Ethan Magid and associate Angelin Oey, with additional support from Mitch Howell.