Hammerson to exit out-of-town retail parks with £400 million asset sale

(Reuters) - Hammerson said on Friday it will exit out-of-town retail locations by selling seven of them to private equity Orion for 400 million pounds amid store closures on the UK High Street and rise of online stores.The company has been trimming debt and fixing its balance sheet by divesting some its portfolio to focus on its flagship sites, premium outlets and city quarters across Europe."Against a challenged retail and investment backdrop, we have exited the retail parks sector," Chief..