Intu Properties confirms plans to acquire UK shopping centre

Posted On Tuesday, 26 February 2013 08:11 Published by eProp@News
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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

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