Capital & Regional confirms takeover proposal from Vukile, expression of interest from NewRiver

Capital & Regional surged on Thursday after confirming it had received a non-binding indicative proposal from Vukile about a possible cash and share offer and a separate expression of interest from NewRiver REIT.

The proposal from Vukile Property Fund - a specialist retail real estate investment trust - was received on 19 April.

Capital & Regional also said it was "aware" that majority shareholder Growthpoint, which holds a 68.13% interest, had received a preliminary expression of interest from NewRiver about a possible cash and share offer.

"The board of Capital & Regional confirms that it has received no offer proposal from NewRiver at this stage," it said.

"There can be no certainty that any firm offer will be made for the company, nor as to the terms on which any offer will be made."

At 0935 BST, the shares were up 14.4% at 58.92p.