East Midlands shopping centre operator could be taken private

The owner of three East Midlands shopping malls could be taken private, according to reports.

The Sunday Times says that intu, which part owns a shopping centre in Derby and runs the Broadmarsh and Victoria Centre venues in Nottingham, could be sold to private equity firm Orion Capital Managers.

Orion which currently owns 9% of intu, is reportedly trying to form a consortium to buy the struggling mall operator, which posted a six-monthly loss of over £850m in July.

intu was the subject of two failed takeover bids last year and is currently weighed down by a £4.7bn debt pile.

In July, intu said as looking at diversification and had identified around 6,000 residential units across eight sites, seven potential hotel suites for around 800 rooms and eight office opportunities.

Click here to sign up to receive our new South West business news...
Close