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Intu Properties PLC (INTUP.L)

INTUP.L on London Stock Exchange

277.10GBp
23 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Intu to acquire Xanadú Shopping Centre in Spain for 530 mln euros
Friday, 10 Mar 2017 11:28am EST 

Intu Properties Plc : To acquire Xanadú shopping centre in Madrid, Spain for a total cash consideration of 530 mln euros . A 263 mln euros five year term loan with Santander, BBVA, Credit Agricole and Caixabank has been secured on asset . All-In cost of debt estimated to be around 2.0 per cent. . Balance of consideration will be met from Intu's existing resources .Acquisition is expected to be earnings accretive.  Full Article

Intu Properties names John Strachan as chairman
Thursday, 23 Feb 2017 02:39am EST 

Intu Properties Plc : Intu properties plc: directorate change – chairman appointment .John Strachan, a non-executive director of intu since october 2015, will succeed Patrick Burgess as chairman on 3 May 2017.  Full Article

Intu Properties records net asset value per share of 404 pence unchanged from 2015
Thursday, 23 Feb 2017 02:00am EST 

Intu Properties Plc : FY net rental income 447 million stg versus 428 million stg year ago . FY underlying EPS 15.0 pence versus 14.2 pence year ago . FY property revaluation deficit 64 million stg versus surplus of 351 million stg year ago . FY underlying earnings 200 million stg versus 187 million stg year ago . FY dividend per share 14 pence versus 13.7 pence year ago . As at December 31, NAV per share 404 pence versus 404 pence year ago . On like-for-like basis, FY net rental income up by 3.6 percent . Environment for business this year likely to be challenging as full impact emerges of UK's EU Referendum vote - CEO ."Well positioned as we focus on top quality assets in prime locations with high occupancy and strong footfall" - CEO.  Full Article

Intu Properties to buy Xanadu shopping centre in Madrid
Tuesday, 31 Jan 2017 07:50am EST 

Intu Properties Plc : Statement Regarding Press Comment . Notes recent press speculation regarding potential acquisition of Xanadu shopping centre in Madrid . Confirms it has entered into an exclusivity agreement with entities of Ivanhoé Cambridge Group to acquire centre .Transaction would be funded from a combination of bank financing and existing facilities.  Full Article

Intu Properties says bonds due 2022 to be issued at par
Tuesday, 25 Oct 2016 07:28am EDT 

Intu Properties Plc : Announces successful pricing of an offering of 375 mln stg of guaranteed convertible bonds due 2022 .Initial conversion price is 3.7506 stg per share representing a premium of 30 pct above volume weighted average price of shares between launch and pricing.  Full Article

Intu raises guidance on growth in like-for-like net rental income for 2016
Thursday, 28 Jul 2016 02:05am EDT 

Intu Properties Plc : For first six months, a 10 percent increase in underlying earnings per share driven by growth in net rental income of 7.5 percent on like-for-like basis . Established retailers, Zara and Next, upsizing space and we have welcomed new lifestyle brands and international retailers . Expect growth to be weighted to first half of 2016 because of pattern of tenant events in year .Raising our guidance on growth in like-for- like net rental income for 2016 to 3 per cent to 4 per cent range.  Full Article

Intu Properties buys remaining 50 pct of Merry Hill Estate for 410 mln stg
Monday, 20 Jun 2016 07:05am EDT 

Intu Properties Plc : Acquisition of the remaining 50 per cent of the Merry Hill Estate for 410 million stg . Deal represents an income yield of 5.2 per cent, based on net rental income of 43 million stg. . Estate comprises Intu Merry Hill shopping centre, two retail parks, office and leisure uses along with development land. . Acquisition, which is scheduled to complete shortly, is expected to be earnings accretive from completion . 500 million stg loan has been arranged, with a 2018 maturity, which will replace current 191 million stg loan facility, maturing in 2017 .Pro forma loan to value increases to 43 per cent compared with 41 per cent at 31 March 2016.  Full Article

Intu Properties buys remaining 50 pct of Merry Hill Estate
Friday, 17 Jun 2016 12:16pm EDT 

Intu Properties Plc : Acquisition of remaining 50 per cent of merry hill estate for £410 million . Deal represents an income yield of 5.2 per cent, based on net rental income of £43 million. .Acquisition, which is scheduled to complete shortly, is expected to be earnings accretive from completion.  Full Article

Intu Properties confirms talks with Australia's QIC over Intu Merry Hill deal
Thursday, 16 Jun 2016 04:05am EDT 

Intu Properties Plc : Response to media comment . Intu confirms that it is in advanced discussions with QIC regarding potential acquisition of QIC's 50 per cent interest in Intu Merry Hill in West Midlands . If acquisition were to proceed, consideration is likely to be around 410 million pounds and would be funded through a combination of new debt and existing resources . Whilst discussions are ongoing, there can be no certainty that any transaction will be undertaken. .Acquisition would be funded through a combination of new debt and existing resources.  Full Article

Intu Properties Plc recommends interim dividend
Thursday, 30 Jul 2015 02:02am EDT 

Intu Properties Plc:Says it is recommending an interim dividend of 4.6 pence per share in line with the 2014 interim dividend.  Full Article

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BRIEF-Intu to acquire Xanadú Shopping Centre in Spain for 530 mln euros

* To acquire Xanadú shopping centre in Madrid, Spain for a total cash consideration of 530 mln euros