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Real estate investment group Praxis is considering acquiring the owner of the Capital & Regional shopping centre.
Praxis, which manages 19 shopping centres in the UK, said it was considering a cash offer for the listed real estate investment trust (REIT). It has not given Capital & Regional any suggestion as to what the price or terms of the offer might be.
Praxis has until August 16 to announce its firm intention to submit a bid or not, but could extend the deadline if regulators agree.
Capital & Regional, which owns shopping centres in Edinburgh, London and Kent, says it has assets worth £373m.
The news has fuelled fears that another company could soon leave the London Stock Exchange. Capital & Regional shares have been listed since 1993. They rose 1.4 per cent, or 0.9p, to 65p yesterday.
On the right foot: Praxis, which manages 19 shopping centres in the UK, said it was considering a cash offer for Capital & Regional
Praxis is the third potential buyer to have expressed interest in less than two months.
NewRiver made an overture to Capital & Regional’s largest shareholder in May when Vukile Property Fund also withdrew an offer.
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