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Intu buyout talks deadline pushed back again

Shopping centre owner Intu has further extended the deadline in talks to take the company private.

A consortium of buyers now has until 5pm on 30 November to formally announce its intentions to make an offer on the business.

The consortium bidding for Intu comprises Intu’s largest shareholder, Peel Group, Saudi conglomerate Olayan Group and Brookfield, a Canadian private equity group.

Intu anticipates that its full-year rental income will grow between 0% and 1% in 2018, in a “particularly challenging” period for UK retail.

The shopping centre owner signed 84 leases in the period between 1 July and 23 October 2018, which will deliver £15m annual rent revenue.

So far this year, 200 long term leases have been agreed, delivering £32m in annual rent.

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