Intu Properties confirms plans to acquire UK shopping centre

Posted On Tuesday, 26 February 2013 08:11 Published by eProp@News
Rate this item
(0 votes)

Intu Properties (ITU) - formerly Capital Shopping Centres - confirmed it is in advanced discussions to acquire Midsummer Place Shopping Centre in Milton Keynes from Legal & General property.

The company was responding to recent press speculation on the matter‚ it said.</P> <P>Intu has adequate cash and undrawn facilities to fund the acquisition‚ but is also considering additional funding options‚ including an equity placing.

The centre‚ situated around 70kms nort-west of London‚ has over 50 shops and restaurants including Zara‚ H&M‚ Hollister‚ Debenhams‚ Superdry and Apple.

A further announcement will be made as appropriate‚ the company said.

Intu also welcomed the appointment of Adele Anderson to the Board as a non-executive director and member of the Audit Committee with effect from Friday 22 February 2013.


Last modified on Tuesday, 26 February 2013 08:24

Most Popular

Attacq sees success with high-rise development The Mix

Sep 22, 2021
Waterfall’s latest high-rise residential development, The Mix Waterfall, is approaching…

When can I cancel an Offer to Purchase?

Sep 22, 2021
There’s nothing more exciting (or nerve-wracking) than submitting an Offer to Purchase on…

Serviced office space provider The Business Exchange opens in Cape Town

Sep 21, 2021
Serviced office space provider The Business Exchange (TBE) has extended operations and is…

Interest rates still on hold but scales start tipping towards a hike

Sep 23, 2021
The SARB Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 3.5%…

Please publish modules in offcanvas position.