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Growthpoint Properties nears Capital & Regional takeover

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Growthpoint Properties nears Capital & Regional takeover

Growthpoint Properties Ltd., which is in the process of taking over Capital & Regional PLC, received valid acceptances for 438,704,932 shares of the U.K. retail real estate investment trust, as of 3 p.m. London time on Dec. 5.

The shares represent roughly 60.3% of Capital & Regional's issued ordinary share capital, as of Dec. 5. The deal is now declared fully unconditional.

The South Africa-listed company's partial cash offer will remain open for acceptances until 1 p.m. London time on Dec. 13.

Goldman Sachs is financial adviser to Growthpoint. Numis and J.P. Morgan Cazenove are joint financial advisers to Capital & Regional.

FTI Consulting is public relations adviser to Capital & Regional, while Java Capital Trustees and Sponsors is the company's Johannesburg Stock Exchange, or JSE, sponsor.

Investec Bank Ltd. is JSE sponsor to Growthpoint.