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Intu in talks with Hong Kong retail investor

The shopping centre owner which sold Sprucefield Retail Park for £40m in November has revealed it is in talks with a major retail property investor.

Intu, which is attempting to pay down its huge £5bn debt pile, confirmed talks have taken place with Hong Kong-based Link Real Estate Investment Trust, following a report in the Sunday Times.

Link and Intu held "constructive discussions", with biggest shareholder Peel Group also involved, the company added.

Bosses had already revealed plans to start raising money from shareholders and new investors at their annual results later this year.

The company suffered from several big-name retailers collapsing in the past year, along with others pushing through insolvency plans known as company voluntary arrangements (CVAs) to reduce rents.

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