UK's Intu Puts Up $1.4B For Westfield Shopping Malls

Law360, New York (March 20, 2014, 6:12 PM EDT) -- U.K.-based Intu Properties PLC has purchased two shopping centers from Australian-headquartered Westfield Group LLC and bought a 50 percent stake of another for about £867.8 million ($1.4 billion) including working capital, the companies said Thursday.

Under the terms of the transaction — which is expected to close sometime in the middle of 2014 — Intu will take over full ownership of two of the three properties: a mall in the English city of Derby and the Sprucefield retail park in Northern Ireland. Intu will acquire a...
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