London-listed real estate investment trust Capital & Regional has received takeover interest from two different suitors, its board confirmed today (23 May).
In a stock exchange announcement, the board said it had received a non-binding indicative proposal from Vukile Property Fund Limited for its entire share capital on 19 April.
The board also noted that majority shareholder Growth Point Properties Limited, which owns 68.1% of the trust, has received a ‘preliminary expression of interest’ from the £231m NewRiver Reit in relation to an offer for Capital & Regional.
Both Vukile and NewRiver have until 5pm on 20 June to either firm up their interest or to announce their intention to walk away from any potential takeover.
On 8 May, CEO of Capital & Regional Lawrence Hutchings resigned from his role after seven years.
Capital & Regional invests in UK-focused retail property, centred on convenience and community focused shopping centres.
See also: Hargreaves Lansdown refuses takeover bid
