A £2.9 billion ($3.7 billion) takeover bid for the shopping center group Intu has been abandoned.
The bidding consortium consists of Peel Group, Saudi Arabia–based Olayan Group and Brookfield Property, which cited the reason for withdrawing its bid as “uncertainty around current macroeconomic conditions and the potential near-term volatility across markets.”
David Fischel, the chief executive of Intu, told the Guardian, “There is only one reason this deal was called off and that was Brexit.”
