July 26, 2018 / 6:41 AM / 4 months ago

Britain's Intu Properties CEO David Fischel to step down

July 26 (Reuters) - Intu Properties Chief Executive Officer David Fischel is stepping down months after a 3.4 billion-pound ($4.49 billion) takeover of the British shopping centre operator by bigger rival Hammerson fell through.

Fischel, who will leave Intu once a successor is appointed, was earlier expected to stand down upon the completion of the proposed Hammerson merger.

Intu, which owns Manchester’s Trafford Centre, also said underlying earnings in the first half were flat at 98.5 million pounds from a year ago. ($1 = 0.7577 pounds) (Reporting by Justin George Varghese in Bengaluru; Editing by Amrutha Gayathri)

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