Brookfield: Consortium Mulls Cash Offer for Intu Properties -- Update
October 04 2018 - 1:14PM
Dow Jones News
(Adds response by Intu)
By Dimitrios Kontos
Brookfield Property Group is part of a consortium that is in the
preliminary stages of considering a cash offer for the shares of
Intu Properties PLC (INTU.LN) not already owned by members of the
consortium, it said Thursday.
Brookfield said the consortium, which also includes The Peel
Group and The Olayan Group, hasn't approached the board of Intu
yet.
Later on Thursday, Intu Properties confirmed that it hasn't
received any approach.
Intu said it has formed an independent committee--comprising all
board directors except John Whittaker, who is the chairman of the
Peel Group--that will consider any approach from the consortium, if
made.
Peel and Olayan hold shares representing around 29.9% of the
share capital of Intu, while Brookfield holds no interest.
Brookfield Property Group is the real-estate arm of Brookfield
Asset Management Inc. (BAM).
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
October 04, 2018 13:59 ET (17:59 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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