INTU PROPERTIES PLC - Intu and CPPIB Announce Completion of the Joint Venture for Puerto Venecia Shopping Centre

Intu and CPPIB Announce Completion of the Joint Venture for Puerto Venecia Shopping Centre

INTU PROPERTIES PLC
(Registration number UK3685527)
ISIN Code:     GB0006834344
JSE Code:      ITU

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 €451m 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                         +44 (0)20 7960 1207
Matthew         Chief Financial Officer                 +44 (0)20 7960 1353
Roberts
Adrian Croft    Head of Investor Relations              +44 (0)20 7960 1212

Public relations
UK:              Justin Griffiths, Powerscourt          +44 (0)20 7250 1446
SA:             Frédéric Cornet, Instinctif Partners     +27 (0)11 447 3030


CPPIB:
Mei Mavin       Director, Corporate Communications      +44 (0)20 3205 3515

                                                           mmavin@cppib.com
JSE Sponsor:
Merrill Lynch South Africa (Pty) Limited


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 £1.5 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.

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