Potential bidder Praxis abandons race to acquire Capital & Regional

(Alliance News) - Suitor Praxis Group Ltd on Tuesday said it decided against making an offer for ...

Alliance News 10 September, 2024 | 12:45PM
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(Alliance News) - Suitor Praxis Group Ltd on Tuesday said it decided against making an offer for London-based real estate investment trust Capital & Regional PLC.

Praxis, a privately owned property company that specialises in shopping centres in the UK, in July became the third bidder that has shown interest in Capital & Regional this year.

Capital & Regional said Praxis made the move on July 5.

It followed takeover interest from NewRiver REIT PLC and Vukile Property Fund Ltd. Vukile withdrew its interest late in May.

Capital & Regional shares fell 7.3% to 64.00 pence each on Tuesday afternoon in London. In Johannesburg, its shares were up 0.3% at ZAR15.55 each.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
NewRiver REIT PLC 79.90 GBX 0.88 -
Capital & Regional PLC 63.51 GBX -7.96 -
Vukile Property Fund Ltd 1,766.00 ZAC -0.90 -

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