Orion tipped for takeover bid for Intu

Matthew Robert Intu

Orion Capital Managers is considering a takeover bid for the UK’s largest shopping centre group Intu, according to The Sunday Times.

Orion is understood to be in the early stages of seeking partners for a buyout of Intu, which has been hit by a string of insolvencies from retailers such as Debenhams and Sir Philip Green’s Arcadia Group. Intu’s rental income fell by almost 18% in the six months to June and the value of its portfolio, which also includes Lakeside in Essex, was slashed by 9.6%.

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