Intu circled by buyout firms as it faces £1bn debt crunch
Retail property giant Intu is reportedly being considered for a private equity buyout by Orion Capital Managers.
The private equity fund, led by Aref Lahham, is understood to be seeking partners for a buyout of Intu Properties, according to The Sunday Times.
The property group, which operates the Trafford Centre in Manchester and Lakeside in Essex among others, has had its income hammered by CVAs from retailers including Arcadia and Debenhams.
Intu’s rental income nosedived 18% in the six months to June, while the value of its portfolio was slashed 9.6%.
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