Intu in 'advanced discussions' to acquire shopping centre

Specialist shopping centre owner and developer Intu Properties - formerly known as Capital Shopping Centres Group - has responded to recent speculation relating to a potential acquisition of Midsummer Place Shopping Centre in Milton Keynes.

In a statement issued on Monday morning, Intu commented: "The company confirms that it is in advanced discussions to acquire the Centre from Legal & General Property."

"Intu has adequate cash and undrawn facilities to fund the acquisition, but is also considering additional funding options, including an equity placing."

MF