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Capital & Regional Extends Deadline For Stake Offer From Growthpoint

Wed, 09th Oct 2019 07:40

(Alliance News) - Capital & Regional PLC said Wednesday that discussions between it and real estate investment trust Growthpoint Properties Ltd for the sale of a majority stake In Capital & Regional to Growthpoint have reached an advanced stage.

As a result, both property companies have secured an extended deadline from the Panel on Takeovers & Mergers for Growthpoint to make a firm decision on an offer to Friday next week.

The original deadline was for Wednesday.

In September, Growthpoint and Capital & Regional both confirmed talks about Growthpoint acquiring a majority stake, through a combination of buying existing Capital & Regional shares and injecting capital through a subscription for new shares.

Capital & Regional once again stressed that there was no certainty that the offer would be made.

Capital & Regional is dual listed in Johannesburg and London, while Growthpoint is listed only in Johannesburg.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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