Intu Properties Share Discussion Threads

[williamcooper104] 11/2/2020 09:55

Interesting moves across the pond whereSimons just bought TCO at 50 percent premium (100 percent prior to rumours) - Mac up too TCO and MAC hold class a malls (TCO super class A) and neither needs to raise capital (even if MAC probably needs a divi cut)

[hillofwad] 11/2/2020 09:36

Possibly but if LINK jettisons Trafford Park that takes away a big lump and expensive finance This will give them wriggle time to deal with medium term debts as and when appropriate but its relative petty cash for LINK

[hillofwad] 11/2/2020 09:06

Its not the time to be selling assets into an unreceptive market. LINK can arrive here do what financial repairs are necessary and take that monkey off the back

Provide development capital if needed to sweat assets or reconfigure stores
Perhaps another 12 months of deterioration but its not bottomless

I would be pretty happy ownning Lakeside if it was showing me 5%+

[hillofwad] 11/2/2020 08:58

Frazboy

Opportunity Knocks if somebody can pick up the portfolio with a 25 % haircut from last summers book value that represents good value to me

[frazboy] 11/2/2020 08:42

Rights issue

[frazboy] 11/2/2020 08:38

hillofwad, Jaknife - thanks for the opposing points of view. Not much to add, other than I'm more aligned with Jaknife - I just don't see a bid appearing... and for similar reasons (CVAs still going through, 60-70% of them unsuccessful (IIRC), Capex requirements, etc) i don't see a successful RI, either.

[hillofwad] 11/2/2020 05:34

I think LINK will bid for the company buying out Whittaker's shareholding with a quid pro quo arrangement on Trafford Centre That will be the best solution for shareholders

[hillofwad] 11/2/2020 05:19

Sure they are going to want their pound of flesh and a large dose of it especially as Intu's back to the wall

I also acknowledge that these high debt situations rarely work out well for private shareholders

However the scenario you set out there will be plenty of competition at 1.6 per share Bottom feeders I see LINK a more of a"special Purchaser" They arent the only show in town

Any West End investment agent worth their salt will be over this like a rash and there will be a number of solicited or unsolicted offers on the table for the individual centres to frank the form at BV minus 15 -20%




This is a rare opportunity to safe haven capital into some trophy assets at well below market value . They aren't going to let an opportunity like this slip for the sake of a £100m or so

[hillofwad] 10/2/2020 18:34

Frazboy

Against my better judgement!! V Impressed with LINK They aren't some rape and pillage merchants,debt chasers who will rip this to shreds They will actually asset manage probably employ some of the Intu mob as regional managers and keep them sweet

Why bother fannying around injecting hard earned capital when you can pick up the assets with a healthy discount I think the moons are aligning
Just take a look at some of the kit they own

hxxps://www.linkreit.com/en/ourBusiness/metro/?type=assetInvestment

hxxps://www.linkreit.com/en/ourBusiness/ecmall/?type=assetInvestment

[ericshunn] 10/2/2020 18:19

Think that could be right JW wants Trafford doubt he cares much about the rest of the portfolio

[frazboy] 10/2/2020 17:54

Have you bought a few, hillofwad?

[hillofwad] 10/2/2020 17:45

Think you need to look a little bit further at LINK They are the largest Asian REIT
They own and asset mannge similar regional centres to Intu


Hong Kong investors would be very excited to own some trophy UK shopping assets They y can come and visit when they fly over to view some of the flats they have bought off plan in half empty buildings Ultimate safe haven silos
The chairman was a big cheese at PWC

They are the most perfect fit 1, 2 ,3 4bn its petty cash

They are more than likely going to bid and palm Whittaker off with the Trafford Centre

[zcaprd7] 10/2/2020 15:50

The Chinese weren't allowed to buy into an airline, by EU law...

[sbb1x] 10/2/2020 12:43

Up 30%. Hmm

[bookbroker] 10/2/2020 11:07

Do a Countrywide, issue massive number of new shares, consolidate like in a 50-1, then repeat the exercise again, only kidding!

[the stinger] 10/2/2020 11:07

bb8, very sad..