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South Africa's Growthpoint in talks for majority stake in Capital & Regional

Capital & Regional PLC said it is in talks with South Africa-listed Growthpoint Properties Ltd. regarding the latter's acquisition of a majority stake in the U.K.-based retail real estate investment trust.

The stake acquisition would be in the form of a combination of a partial offer in cash for Capital & Regional shares and a capital injection through a subscription for new shares in the REIT.

As per disclosure requirements, Growthpoint is required to either announce a firm intention to make an offer or announce that it does not intend to do so by no later than Oct. 9.

Capital & Regional noted that there can be no certainty that a partial offer and subscription for new shares will be made.