StockMarketWire.com - Shopping centre owner Hammerson said it would terminate a deal to sell a portfolio of seven retail parks after private equity company Orion failed to meet the purchase deadline.

Orion failed to complete the deal before the 6 May deadline having previously signaled that it was unwilling to follow through with the transaction.

Hammerson said it would terminate the agreement and tap the £21m deposit which had been held in escrow for the deal.

At 8:02am: [LON:HMSO] Hammerson PLC share price was -0.71p at 59.05p

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