- Intu Properties said Thursday a consortium backed by Peel Group, the Olayan Group and Brookfield Property Group walked away from a £2.9bn deal to take the company private.

The consortium cited uncertainty around current macroeconomic conditions and the potential near-term volatility across markets had scuppered its plans to take over Intu.

The news comes a week after the Intu said the consortium had largely completed its due diligence and made 'substantial' progress on the financing of the possible offer, but requested an extension to finalise financing.

Following the withdrawal of the possible offer, intu said it would re-engage with major shareholders, including Peel, and also complete the appointment of a successor to the current Chief Executive where the search remained ongoing.

At 8:18am: [LON:INTU] Intu Properties share price was -73.3p at 119.3p

Story provided by