Intu Properties to acquire two UK shopping centres‚ retail park for R15,4bn

Posted On Wednesday, 26 March 2014 12:26 Published by
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Intu Properties announces the acquisition of two UK-based regional shopping centres and a retail park for R15,4bn (GBP867.8m). 

David Fischel

Intu Properties on Thursday announced the acquisition of two UK-based regional shopping centres and a retail park for £867.8m.

Intu‚ formerly known as Capital Shopping Centres and owner of some of the UK's largest malls‚ would acquire Westfield Merry Hill‚ Westfield Derby and Sprucefield.

"The acquisition strengthens Intu's position as the leading owner‚ developer and manager of prime UK shopping centres‚ filling in gaps in our national coverage and extending the footprint of our nationwide consumer-facing brand and digital strategy‚" CE David Fischel said.

Intu had established a partnership with global investor QIC at Merry Hill‚ he said. The deal would be funded by new debt facilities totalling £423.8m and the company planned to raise £500m in a rights issue.

Last modified on Wednesday, 26 March 2014 12:35

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