4th Oct 2018 18:32
LONDON (Alliance News) - Intu Properties PLC on Thursday confirmed it has received no approach from shareholders over buying out the rest of the company.
Earlier Thursday Peel Group, Olayan Group, and Brookfield Property Group said they are considering a possible cash offer for the remaining shares in Intu they do not already own.
Peel and Olayan currently hold 29.9% of FTSE 250-listed Intu's shares, they said, with Brookfield holding none.
Peel's Executive Chairman John Whittaker is also deputy chairman of Intu.
Intu has formed a committee, made up of all directors except Whittaker, to consider any approach.
Shares in Intu Properties closed down 3.2% Thursday at 148.55 pence each. In Johannesburg, the stock closed 0.4% higher at ZAR28.61.
Related Shares:
INTU.L