John Whittaker will join the board of Capital Shopping Centres today, following the £1.6bn purchase of the Trafford Centre from Peel Group by CSC.

The Peel Group chairman is now deputy chairman of shopping centre REIT CSC, and is expected to take a hands-on role in the company’s asset management strategy.

CSC also confirmed today that it has issued £1.45bn of new shares and a £154m convertible bond in order to fund the purchase of the Trafford Centre. The deal will see Peel become CSC’s largest shareholder, with a 23% stake in the company.

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