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Silverburn shopping complex bidding war won by Hammerson

Hammerson, the UK property investment trust, has emerged as the winner in a bidding war for Silverburn the super-sized shopping centre on the south side of Glasgow, paying close to £300m in a joint venture with its partner Canadian Pension Plan.

Silverburn was put up for sale after its parent company, owned by retail tycoon Paul Green, tumbled into receivership in September.