Trafford Centre exterior

Whittaker increases Intu stake

Simon Donohue

John Whittaker has increased his stake in Intu Properties, owner of the Trafford Centre.

The Peel Group chairman and Intu deputy chairman paid £312,475 for 100,000 shares, taking the Whittaker family's overall stake to 19.85% of the company.

Factoring in bonds which could be converted to shares, the Whittaker family controls 23.83% of Intu Properties, formerly Capital Shopping Centres.

Peel Holdings sold the Trafford Centre to CSC in November 2010 for £75m and a 19.9% stake in Intu.

The overall percentage of the stake was reduced as a result of a new share issue in March this year to fund the £250m acquisition of the Midsummer Place Shopping Centre in Milton Keynes.

Prior to the March issue, Peel Group held 20.1% of the issued share capital of Intu and undertook to subscribe for approximately £50m of new shares.

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