Capital & Regional shareholders green light NewRiver takeover

14th November 2024 | Jack Oliver

Capital & Regional is set to be acquired by fellow real estate investment trust NewRiver after its shareholders approved the takeover.

NewRiver submitted a formal bid to acquire Capital & Regional for £147m in September, which would see the creation of a combined retail portfolio worth around £900m.

Capital & Regional announced on Wednesday that over 99% of its shareholders had approved the proposals following a court meeting and a company general meeting.

The group’s shares on the London Stock Exchange will now be suspended on December 10.

NewRiver first submitted a preliminary expression of interest to Capital & Regional’s majority shareholder, Growthpoint, regarding a full takeover back in May.

Capital & Regional had also attracted the interests of the Johannesburg-based Vukile Property Fund as well as property investment and management company Praxis, however both firms pulled out of the race leaving NewRiver in the driving seat.

Share

Looking for more retail news? you might find these interesting