Intu Properties: stock soars 25%; consortium to buy out

(CercleFinance.com) - The share of the real estate company Intu Properties is soaring nearly 25% on the London Stock Exchange this morning, reaching around 185 pence, with a consortium considering a takeover of the group in cash.


Note that the project is only at a "preliminary" stage.

Yesterday, a group consisting of the British investment company Peel Group, its Saudi counterpart Olayan Group and the Canadian Brookfield Property Group said that it plans to file a takeover bid on Intu Properties, which the group has acknowledged. No details have been provided so far.

Intu Properties indicates that, for the time being, it has not been approached, but that it has set up an independent committee on its board of directors which, if necessary, will be responsible for studying offers.


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