Whittaker's Trafford deal creates £310m tax saving - Telegraph
John Whittaker is set to save up to £310.8m in tax by selling the Trafford Centre to Capital Shopping Centres (CSC), according to data compiled as part of the £1.6bn deal.
The level of tax saving – made because Mr Whittaker is selling the Manchester shopping centre for shares in CSC, a Real Estate Investment Trust (Reit) – has added to frustration among some CSC shareholders who feel the company is paying too much for the Trafford Centre.
Simon Property Group, a 5pc shareholder in the company, launched a £2.94bn takeover bid for CSC after expressing concern over the deal. However, the US company is poised to walk away from CSC this week ahead of Wednesday's "put up or shut up" deadline.
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