Intu Properties on road to acquire Xanadu in Madrid
FTSE 100-listed shopping centre owner Intu Properties has confirmed it was in exclusive talks regarding the potential acquisition of Xanadu shopping centre in Madrid.
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Following press speculation, Intu said it had signed an exclusivity agreement with the Ivanhoé Cambridge Group to acquire the centre, which transaction it said would be funded from a combination of bank financing and existing facilities.
"At this time there is no certainty that this transaction will complete and a further announcement will be made as and when appropriate," Intu said.