M&A Deal Summary

CPP Investments and Hammerson Acquire Bullring

On May 3, 2013, pension CPP Investments and Hammerson acquired real estate company Bullring for 307M GBP

Acquisition Highlights
  • This is CPP Investments’ 1st and Hammerson’s 7th transaction in the Real Estate sector.
  • This is CPP Investments’ 26th and Hammerson’s 2nd largest (disclosed) transaction.
  • This is CPP Investments’ 1st and Hammerson’s 3rd transaction in the United Kingdom.

M&A Deal Summary

Date 2013-05-03
Target Bullring
Sector Real Estate
Buyer(s) CPP Investments
Hammerson
Deal Type Joint Venture
Deal Value 307M GBP

Target

Bullring

Birmingham, United Kingdom
Bullring Limited operates as a shopping center. It offers space for fashion and food retailers.

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Buyer(S) 2

Buyer
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 5 of 56
Sector: Real Estate M&A 1 of 3
Type: Joint Venture M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 6
Year: 2013 M&A 1 of 2
Size (of disclosed) 26 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-09 Air Distribution Technologies

Plano, Texas, United States

Air Distribution Technologies is a provider of air-distribution and ventilation products for residential and industrial buildings in North America. Its brands include Koch Filter, Titus, Ruskin, Kreuger, PennBarry and Tuttle & Bailey and their product lines of grilles, registers and diffusers, terminal units, fire and smoke dampers, louvers, filters and fans. Air Distribution Technologies products are manufactured in the United States, Mexico, India, Thailand and the United Arab Emirates. Air Distribution Technologies is based in Plano, Texas.

Buy $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-09 Neiman Marcus

Dallas, Texas, United States

Neiman Marcus is a specialty retailer with online and offline operations. The Company's retail stores segment consists primarily of Neiman Marcus, Bergdorf Goodman and Last Call stores. The Online segment conducts both catalog and online operations under the Neiman Marcus, Bergdorf Goodman and Horchow brand names. Neiman Marcus was originally established in 1907 and is headquartered Dallas, Texas.

Buy $6.0B
Buyer

Hammerson

London, United Kingdom

Category Company
Founded 1942
Sector Real Estate
Employees125
Revenue 117M GBP (2024)
DESCRIPTION

Hammerson is a provider of high-quality retail property. The Company focuses on winning locations: prime regional shopping centres, convenient retail parks, and premium designer outlet villages. Hammerson was founded in 1942 and is based in London, England.


DEAL STATS #
Overall 7 of 7
Sector: Real Estate M&A 7 of 7
Type: Joint Venture M&A Deals 3 of 3
Country: United Kingdom M&A 3 of 3
Year: 2013 M&A 1 of 1
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-23 St. Martins Property Investments

London, United Kingdom

St Martins is a leading property investment and asset management company with a diverse portfolio in the UK, Continental Europe, Australia and Asia. As the UK-based real estate investment vehicle of the State of Kuwait, St Martins has significant financial strength and is well-placed to act quickly, professionally and in confidence.

Buy £208M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-09 AXA Real Estate Investment Managers

Paris, France

AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. We are one of the largest European-based asset managers.In a challenging environment, our ability to offer clients a comprehensive range of investment solutions spanning all asset classes, as well as the talent of our fund managers enabled AXA IM to thrive.

Buy £109M