Capital & Regional extends deadline for NewRiver takeover offer

20th June 2024 | Jack Oliver

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.

In May Capital & Regional’s majority shareholder, Growthpoint, had received a preliminary expression of interest from NewRiver regarding a full takeover.

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.


Looking for more retail news? you might find these interesting