UK property REIT Capital & Regional confirmed on Thursday that it has received a non-binding offer and an expression of interest from two separate investment groups.
Cap & Reg's board has received a non-binding indicative proposal from Vukile Property Fund regarding a possible cash and share offer for the entire share capital of the UK retail and leisure property landlord.
Separately, the firm's largest shareholder Growthpoint Properties, which holds 68.13% of the company’s issued share capital, has also received a preliminary expression of interest from NewRiver REIT in relation to a possible offer in cash and shares for Cap & Reg's entire share capital.
Both interested parties are required to confirm their offer by no later than June 20, the company said in a statement.
With a market cap of £231 mln, NewRiver REIT is a specialist listed real estate investment trust, focused primarily on retail and leisure property in the UK.
Vukile Property Fund is a Johannesburg-based retail real estate investment trust (REIT) with a diversified portfolio of property assets valued at R39 bn (€2 bn), of which 59% is based in Spain.
