Capital & Regional has secured an extended deadline for Growthpoint to submit a bid for a majority stake in the REIT, as talks reach an “advanced” level.
South Africa’s Growthpoint will have until 5pm on 18 October to announce a firm intention to make an offer. The initial PUSU deadline was today (9 October).
See also: Why Growthpoint is circling Capital & Regional
Growthpoint aims to buy a majority stake in the company through a combination of a partial offer in cash for shares, and a capital injection through a subscription for new shares.
C&R said that both parties “have continued to progress these discussions and the proposals are now at an advanced stage”.
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