Capital & Regional extends NewRiver takeover talks

NewRiver REIT has been given more time to make a takeover offer for listed rival Capital & Regional. The REIT now has until 18 July to “put up or shut up”. It was previously required to meet the deadline this afternoon. CapReg said it made the request to facilitate ongoing discussions with NewRiver. Last month, the board confirmed Growthpoint Properties, NewRiver’s majority shareholder, had received a preliminary expression of interest from NewRiver relating to a possible cash-and-share offer for the entire issued share capital of the business. At the time, NewRiver emerged as a suitor for the business alongside South Africa’s Vukile Property Fund. Vukile has since walked away after failing to reach an agreement on a possible offer.