Whittaker spends £20m on Intu shares

30 March 2016 10:34 Jessica Middleton-Pugh Comments (0)

John Whittaker has added 6.5m shares to his stake in Intu Properties at a cost of £20.2m, maintaining his total holding in the company at around 25%.

Whittaker has a total of 336,492,751 shares in Intu, and intermittently goes on a share acquisition drive in the company, often when new shares are released or when the share price is underperforming the wider real estate market.

Whittaker has spent more than £100m on shares in Intu in the past 12 months, with his largest purchase being 24.7m shares at a cost of £80.2m last summer.

Whittaker is chairman of Peel and non-executive non-independent deputy chairman of Intu, owner of the Intu Trafford Centre, since 2011.

Intu assets include five regional centres: Trafford Centre, Lakeside, Metrocentre, Braehead and Cribbs Causeway. There are also town and city centre malls including Manchester Arndale, St David’s, Eldon Square, Watford, Victoria Centre, Midsummer Place, Chapelfield, Uxbridge, Potteries and Bromley.

The Intu share price this morning was up 2.80p to 315.80p per share.