National Pension Service of Korea (NPS of Korea), a public pension fund for South Korea, has purchased a stake in a mall near Paris from European real estate company Hammerson, Bloomberg reports. NPS of Korea has paid $150 million for the stake.
The acquisition of an additional 24 percent stake in O’Parinor has increased NPS’ ownership in the mall to 75 percent. The transaction is part of Hammerson CEO David Atkins’ strategy to sell assets to cut debt and finance more-profitable acquisitions and new developments.
Click here for the release from Bloomberg.
