Capital & Regional responded to takeover speculation this week by confirming it had received a bid for the business and a separate expression of interest.
The board said it had received a non-binding indicative proposal on 19 April 2024 from Vukile Property Fund regarding a possible cash and share offer for the entire issued and to be issued share capital of the company.
It added that its majority shareholder Growthpoint Properties, which holds 68.13% of the company’s issued share capital, had received a preliminary expression of interest from NewRiver REIT in relation to a possible offer in cash and shares for the entire share capital of Capital & Regional. However, it said it had received no offer proposal from NewRiver.
Vukile and NewRiver now have until 5pm on 20 June 2024 to announce a firm intention to make an offer or that they do not intend to make an offer. The deadline can only be extended with the consent of the takeover panel.
