A private equity giant has amassed a significant stake in the troubled shopping centre owner Intu, putting it in a position to take part in any future takeover.
Orion Capital Managers has built a 4.1% stake in Intu worth about £62m over the past few months, making it one of the main shareholders in the owner of the Trafford Centre.
Secretive billionaire John Whittaker, Intu’s largest investor with a 29.3% stake, led a consortium bid to take the company private last year, only for the deal to fall apart when Canadian investor Brookfield failed to raise financing.
