Pretoria - Listed intu Properties, an owner, manager and developer of prime regional shopping centres in the UK with a growing presence in Spain, has confirmed it has entered into an exclusivity agreement to acquire the Xanadu shopping centre in Madrid.The company confirmed the agreement on Tuesday following media speculation about the potential acquisition.
intu said it had entered into exclusivity agreements with entities of the Ivanhoé Cambridge Group to acquire the centre.
Read also: Intu Properties completes sale
It said the transaction would be funded from a combination of bank financing and existing facilities.
However, intu stressed that at this stage there was not any certainty the transaction would be finalised. It said a further announcement would be made “as and when appropriate”.