Potential buyers circle Capital & Regional
Two potential buyers have expressed an interest in acquiring asset manager and real estate investment trust (REIT) Capital & Regional.
The shopping centre specialist said it had received a proposal from the Johannesburg-based Vukile Property Fund regarding a possible cash and share offer for its entire issued share capital.
In addition to the Vukile proposal, Capital & Regional said it was aware that its majority shareholder, Growthpoint – which holds 68.13% of its issued share capital – had received a preliminary expression of interest from NewRiver for a full acquisition of Capital & Regional.
However, Capital & Regional confirmed that – as of Thursday morning – it had received no offer proposal from NewRiver. It added that there can be no certainty that any firm offer will be made, nor as to the terms of any such offer.
Under the code of the London Stock Exchange, both Vukile and NewRiver must declare whether they intend to make an offer for Capital & Regional by 20 June.
In March, the REIT’s chief executive praised a “positive year of progress” in 2023.