Capital & Regional has raised £25m in an open offer, with Growthpoint building up its stake to 67.64%.
Growthpoint took a total of 87.4% of the shares, including around 25% as part of an underwriting agreement.
The South African-listed REIT owned 62.37% of Capital & Regional as of 12 June 2023. It has been steadily building up its holding since 2019, when it bought a 51% stake in a partial offer for £150.4m.
The cash raised will be used to fund the acquisition of Edinburgh’s Gyle Shopping Centre, which Capital & Regional agreed to buy for £40m earlier this month.
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