Shares in UK shopping centre owner Capital & Regional leapt 17% on Thursday after it confirmed it has an early expression of interest of a buyout from Gugulethu Square owner Vukile Property Fund.
Vukile, which owns malls in SA and Spain, confirmed that it had submitted a non-binding indicative proposal regarding a possible cash and share offer for the entire issued, and to be issued, share capital of London-listed C&R. C&R, valued at about R2.6 billion on the JSE, where it has a secondary listing, is a UK-focused retail property REIT specialising in community shopping centres that provide needs-based, non-discretionary and value-orientated retail goods and services. It had its portfolio valued at £372.8 million as of the end of December and booked revenue of £59 million in that year.South Africans need to be in the know if we want to create a prosperous future.
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