Intu Properties: Mall purchases made

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Listed firm Intu Properties had completed the acquisition of a 50 percent interest in Westfield Merry Hill centre and 100 percent of Westfield Derby centre and Sprucefield retail park for £867.8 million (R15.8 billion) from Westfield Entities and joint venture partners, it said on Friday. The acquisitions would be financed by new debt facilities of £423.8m and an underwritten rights issue of two new shares for every seven existing shares at £1.80 a new share. The rights issue was intended to raise about £500m. The shares rose 0.77 percent to close at R51.98 on Friday. – Nompumelelo Magwaza


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