Intu Properties Plc Re Joint Venture

 
TIDMINTU 
 
INTU PROPERTIES PLC AND CANADA PENSION PLAN INVESTMENT BOARD ANNOUNCE 
COMPLETION OF THE JOINT VENTURE FOR PUERTO VENECIA SHOPPING CENTRE 
 
Intu Properties plc ("Intu") and Canada Pension Plan Investment Board ("CPPIB") 
- through its wholly-owned subsidiary, CPP Investment Board Europe S.à r.l. 
("CPPIBE") - announced on 2 June 2015 that they were forming a 50/50 joint 
venture for the EUR451m Puerto Venecia shopping centre in Zaragoza, Spain. 
 
The closing of the transaction was subject to certain completion conditions, 
including regulatory approvals, which have now been met, and the transaction 
has therefore completed today. 
 
Intu and CPPIB have worked together in Spain since the joint acquisition of the 
intu Asturias shopping centre in October 2013. Since the acquisition, intu 
Asturias has increased in value by over 35 per cent at 30 June 2015. 
 
The transaction which completed today extends the partnership between Intu and 
CPPIB to include two of Spain's top ten shopping centres. 
 
ENQUIRIES 
 
Intu Properties plc 
 
David Fischel     Chief Executive                                  [phone] 
 
Matthew Roberts   Chief Financial Officer                          [phone] 
 
Adrian Croft      Head of Investor Relations                       [phone] 
 
Public relations 
 
UK:               Justin Griffiths, Powerscourt                    [phone] 
 
SA:               Frédéric Cornet, Instinctif Partners              [phone] 
 
CPPIB: 
 
Mei Mavin         Director, Corporate Communications               [phone] 
 
                                                               [e-mail] 
 
NOTES FOR EDITORS 
 
Intu is the leading owner and manager of prime regional shopping centres in the 
UK. 
 
A FTSE 100 company, Intu owns and operates many of the UK's biggest and most 
popular retail and leisure destinations, including nine of the top 20, 
incorporating super-regional centres such as intu Trafford Centre, intu 
Lakeside and intu Metrocentre, together with a number of city centre locations 
from Watford to Newcastle. 
 
With over 23 million sq. ft. of space hosting top UK and international 
retailers from Apple to Zara, Intu centres attract some 400 million customer 
visits from over half of the UK's population every year. 
 
Intu has a UK investment pipeline of GBP1.5 billion over the next ten years to 
add 2.6 million sq. ft. of new retail and leisure space, of which 1.7 million 
sq. ft. is already consented. Major projects due to be underway soon include 
the extension and refurbishment at intu Watford and the leisure expansion at 
intu Lakeside. 
 
Intu also has a growing presence in the Spanish market, owning two of Spain's 
top 10 centres: intu Asturias in Oviedo, and Puerto Venecia in Zaragoza, a 
development site in Málaga and development options on a further three sites in 
Valencia, Palma and Vigo. 
 
Intu creates a compelling experience for its customers, both on and offline, 
delivering on its brand promise to provide the most digitally connected 
shopping centres, world-class service and events with a difference. National 
initiatives include the annual 'Everyone's Invited' event which in 2014 
increased footfall that weekend by an average of 13%.  Our objective is for 
customers to come more often and stay for longer, in turn helping intu's 
retailers to flourish. 
 
With some 115,000 people employed at Intu's centres in the UK, representing 
some 4% of the UK's total retail workforce, Intu is fully committed to 
supporting its local communities and the wider environment and is proud to have 
received widespread recognition for its Corporate Responsibility achievements, 
including the coveted BitC CommunityMark. 
 
For further information see www.intugroup.co.uk 
 
About Canada Pension Plan Investment Board 
 
Canada Pension Plan Investment Board (CPPIB) is a professional investment 
management organization that invests the funds not needed by the Canada Pension 
Plan (CPP) to pay current benefits on behalf of 18 million contributors and 
beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB 
invests in public equities, private equities, real estate, infrastructure and 
fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, 
London, Luxembourg, New York City and São Paulo, CPPIB is governed and managed 
independently of the Canada Pension Plan and at arm's length from governments. 
At June 30, 2015, the CPP Fund totalled $268.6 billion. For more information 
about CPPIB, please visit www.cppib.com. 
 
 
 
END 
 

(END) Dow Jones Newswires

September 30, 2015 06:34 ET (10:34 GMT)