Capital & Regional extends deadline for NewRiver takeover offer
The deadline for NewRiver to make an offer for Capital & Regional has been pushed back to July, as the two REITs continue discussions.
NewRiver now has until 18 July to declare whether or not it intends to make a firm offer for Capital & Regional. The previous deadline was 20 June (Thursday).
Capital & Regional – which specialises in regional shopping centres – said there can be no certainty that any firm offer will be made, nor as to the terms of any such offer.
The REIT had also received an offer from the Johannesburg-based Vukile Property Fund regarding a possible cash and share offer for its entire issued share capital. However, Vukile pulled out after being unable to reach an agreement with Growthpoint – which controls around 68.1% of Capital & Regional’s share capital – as to the terms and structure of any possible offer.