Vukile has been unable to reach agreement with the largest shareholder in UK REIT, Capital & Regional, on terms and structure of a possible offer, and has pulled out of any takeover possibility.
South Africa’s Vukile contacted Growthpoint Properties Limited, the largest shareholder in Capital & Regional with 68.1% of its shares.
Talks centred on how it could proceed. But Capital & Regional stated in a stock exchange notice that Vukile had not been able to reach agreement with Growthpoint as to the terms and structure of any possible offer.
It has therefore confirmed it does not intend to make a bid.
Several parties are still circling the REIT as previously reported.
Capital & Regional owns shopping centres in Edinburgh, Hemel Hempstead, Ilford, Maidstone, Walthamstow, Wood Green, with a value of around £373 mln (€438 mln).
For an early sign as to Vukile’s intention to grow in Europe, click here.
