(Adds response by Intu)

By Dimitrios Kontos

Brookfield Property Group is part of a consortium that is in the preliminary stages of considering a cash offer for the shares of Intu Properties PLC (INTU.LN) not already owned by members of the consortium, it said Thursday.

Brookfield said the consortium, which also includes The Peel Group and The Olayan Group, hasn't approached the board of Intu yet.

Later on Thursday, Intu Properties confirmed that it hasn't received any approach.

Intu said it has formed an independent committee--comprising all board directors except John Whittaker, who is the chairman of the Peel Group--that will consider any approach from the consortium, if made.

Peel and Olayan hold shares representing around 29.9% of the share capital of Intu, while Brookfield holds no interest.

Brookfield Property Group is the real-estate arm of Brookfield Asset Management Inc. (BAM).

Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com

(END) Dow Jones Newswires

October 04, 2018 13:59 ET (17:59 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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