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Intu loses fifth of its market value

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Intu says Spanish asset disposal is at an advanced stage

A Debenhams department store at Intu Properties' Watford shopping centre in London, England. Picture: REUTERS/ PETER NICHOLLS

Intu and other JSE-listed, UK-focused landlords, including Capital & Counties and Hammerson have been under pressure since Britain voted to leave the EU in 2016. Brexit has resulted in an extended period of uncertainty, with the UK’s exit date having been repeatedly pushed back, with the latest delay until January 2020.

“We continue to consider all options to put us in the best position to deal with both our short and medium-term liquidity requirements as we approach our next material debt maturity in early 2021.”

 

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