Intu's largest investor in talks to take firm private

Just months after its £3.4bn merger bid for Hammerson failed, shopping centre owner Intu Properties is facing its own takeover.

Peel Group, which is the largest shareholder in Intu with a 26% stake, is part of a consortium that wants to take the company private.

Peel has formed a consortium with Saudi Arabia's Olayan Group - which owns a 3.5% stake in Intu - and Canadian private equity firm Brookfield to explore a multi-billion pound deal.

Intu Properties owns some of the UK's largest shopping centres including the Arndale in Manchester.