Intu properties : INTU – acquisitions

Intu has announced that it is buying a 50% interest in the Westfield Merry Hill shopping centre, a 100% share in Westfield Derby shopping centre and 100% of Sprucefield retail park for £867.8m. It plans to pay for the deal by borrowing £424m and raising the rest via a 2 for 7 rights issue at 180p per share 9a 42.5% discount to Intu’s share price

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