Partner Article

Intu Properties eye Milton Keynes acquisition

Intu Properties has confirmed it is in talks to acquire the Midsummer Place Shopping Centre in Milton Keynes.

The firm announced last week it would rebrand from Capital Shopping Centres to Intu Properties, and renamed its Manchester-based retail park, the Trafford Centre, accordingly.

A deal between Intu and Legal & General Property had generated speculation in the media, and the buyer addressed these rumours with a notice on Monday’s stock exchange.

A statement said: “The Company confirms that it is in advanced discussions to acquire the Centre from Legal & General Property.

“Intu has adequate cash and undrawn facilities to fund the acquisition, but is also considering additional funding options, including an equity placing.”

An official date was not issued for the transaction, however Intu said a further announcement would be made as appropriate.

This was posted in Bdaily's Members' News section by Miranda Dobson .