31st Jan 2017 12:59
LONDON (Alliance News) - Blue-chip shopping centre owner Intu Properties PLC on Tuesday said it has entered into talks to buy the Xanadu shopping centre in Spanish capital Madrid.
Intu has entered into an exclusivity agreement with entities of seller Ivanhoe Cambridge Group to buy the shopping centre.
No financial details were disclosed, but Intu said it would fund the deal with a combination of bank funding and existing facilities.
Intu said there is no certainty a transaction will take place.
Shares in Intu were up 0.4% to 269.10 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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