Liberty International
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| Public limited company | |
| Traded as | : , JSE: ITU |
| Industry | Property |
| Founded | 1980 (as Liberty International) |
| Headquarters | London, United Kingdom |
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Area served
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United Kingdom, Spain |
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Key people
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Patrick Burgess (Chairman) John Whittaker (Deputy Chairman) David Fischel (CEO) |
| Products | Investment and development of shopping centres and other commercial property |
| Revenue | £594.3 million (2016) |
| £396.8 million (2016) | |
| Profit | £171.8 million (2016) |
| Website | www |
Intu Properties plc, formerly Capital Shopping Centres Group plc, is a British Real Estate Investment Trust (REIT), largely focused on shopping centre management and development. Originally named Liberty International plc, it changed its name in May 2010 to that of its major subsidiary, Capital Shopping Centres, after demerging its Capital & Counties Properties business unit to form an independent business. The company owns or part-owns 18 shopping centres in the UK and one in Spain. The firm's shares are listed on the and Johannesburg stock exchanges and it is a constituent of the FTSE 100 Index.
The company renamed itself as Intu Properties plc on 18 February 2013, which was followed by the rebrand of the majority of its shopping centres under the "Intu" name from May 2013.
The company was established by Sir Donald Gordon in 1980 under the name of Transatlantic Insurance Holdings plc as an offshoot Liberty Life Association of Africa, a business he had founded in 1957. The Company developed into a leading investor in life assurance businesses in the 1980s and divested its remaining life assurance interests (a 29% holding in Sun Life) in 1991. In 1992 it merged with Capital & Counties, a leading shopping centre developer, so securing itself a listing on the . It changed its name to Liberty International in 1996 and, after demerging Capital & Counties Properties in May 2010, renamed itself Capital Shopping Centres Group.
The company also disposed of a significant holding in its Californian subsidiary Capital and Counties USA, which was acquired by Equity One in May 2010. Equity One was later acquired by Regency Centers Corporation.
In 2011, CSC purchased the Trafford Centre undertaking £750 million of debt from owners The Peel Group and offered a 20% stake in CSC to Peel chairman John Whittaker. The 20% stake in CSC was worth approximately £700m at the time, thus valuing the Trafford Centre at approximately £1.65 billion. Whittaker continued to purchase shares after the takeover and became the largest single shareholder in 2012 with a stake of 24.63%.
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