Shareholders in Capital & Regional have overwhelmingly approved its £147m takeover by NewRiver REIT, with trading in the company’s London- and Johannesburg-listed shares now set to end on 9 December.
The vote, supported by more than 99%, ushers in the next chapter in a long-running saga that saw NewRiver gain five extensions to the deadline by which it had to bid for the target.
The deal will create a £900m retail portfolio of 29 shopping centres and 13 retail parks. Capital & Regional said previously that it would improve share liquidity for investors, give the company access to “cheaper and more flexible sources of capital” and give the company larger weightings in key indices.
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