On November 6, the president of Eurofund, Ian Sandford, assumed control of the company created to carry out the development of the Intu Costa del Sol shopping and leisure complex. Eurofund had been promoting the development jointly with the British group Intu Properties, but that firm has now filed for bankruptcy. In parallel to the announcement, the directors of the British company announced their resignation, according to Merca2.
Sandford’s takeover of the company, of which he is now a Director and Vice President, as a representative of Eurofund, is a clear sign of how the negotiations between the two partners are going. The talks are set to end with Intu’s exit from the project in favour of Eurofund.
Read the full article in Spanish.