October 4, 2018 / 4:44 PM / 2 months ago

Consortium eyes possible cash takeover offer for Intu Properties

Oct 4 (Reuters) - A consortium comprised of the real estate investment arm of Brookfield Asset Management Inc, British privately owned investment firm The Peel Group and Saudi conglomerate The Olayan Group is considering a possible cash offer for Intu Properties.

The offer is for the issued share capital of Intu not already owned by members of the consortium, Brookfield Property said in a statement on Thursday. It added that the consortium’s consideration of the possible offer is at an exploratory stage and no approach has been made to the board of Intu.

The consortium has until Nov. 1 to make a firm offer for Intu or walk away, Brookfield said.

Reporting by Justin George Varghese in Bengaluru; Editing by Kirsten Donovan

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