Under the terms of the deal Hermes will take a 99% stake in the three larger schemes at Braintree, Castleford, Fleetwood, and will acquire 100% of the equity in the Talke (Jersey) Limited Partnership.
Sean Collidge, executive chairman of Freeport, says: "We are delighted to conclude this transaction with Hermes. Freeport's strategy is to dispose of fully mature assets to recycle capital whilst continuing to develop new Freeport centres, in order to maximise shareholder value."
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