Intu £1bn deal with Hong Kong-based investor falls through

Intu Nottingham

Embattled institutional landlord Intu has confirmed that discussions over an emergency recapitalisation with a Hong Kong-based investment fund have fallen through.

The landlord said this morning that discussions with Link Real Estate Investment Trust over a £1bn emergency cash call had collapsed and the Hong Kong-based firm had informed it of its intention to “no longer participate in a recapitalisation of the company”.

The owner of Lakeside shopping centre said it was still “engaged with shareholders and potential new investors in relation to a proposed equity raise” as it battles to offload £4.7bn in debt at a time when many of its core retail tenants are looking to cut costs and close stores.

Intu shares have plummeted 22.6% to just 13.4p per share. This time last year, Intu shares were worth £1.19.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.