Intu Properties in advance talks over Merry Hill acquisition
Intu Properties has confirmed it is in advanced discussions with Australia's Queensland Investment Corporation regarding the potential acquisition of its 50% interest in the Intu Merry Hill shopping centre in the West Midlands.
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Intu Properties
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13:56 29/06/20
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The company said that if the deal were to go through, the consideration is likely to be around £410m and would be funded through new debt and existing resources.
“Whilst discussions are ongoing, there can be no certainty that any transaction will be undertaken,” Intu said, adding that a further announcement will be made if and when appropriate.
At 0915 BST, shares were down 0.9% to 286.60p.