Asset Management

Intu shares crash as suitors walk away over economic worries

Shopping centre group acknowledges ‘negative market sentiment’ towards retail industry

A consortium weighing up a near-£3bn offer for Intu Properties, the shopping centre owner, has walked away from a deal, citing concerns about the economy and market volatility and sending Intu’s share price plummeting.

The consortium comprised Brookfield, the Canadian investor with a focus on property, the Olayan Group of Saudi Arabia and Peel Group, the property investor chaired by John Whittaker, Intu’s deputy chairman.

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