Praxis Group mulling offer for Capital & Regional

19th Jul 2024 12:48

(Sharecast News) - Praxis Group announced on Friday that it was in the preliminary stages of considering a potential cash offer for Capital & Regional.

The privately-held company described itself as a vertically-integrated property investment and management business, that manages 19 shopping centres in the UK, comprising over 1,000 shop units.

It said it focuses on unlocking value through active asset management and prioritises environmental, social and governance (ESG) performance and social impact initiatives.

Under the Takeover Code, Praxis must announce a firm intention to make an offer for Capital & Regional by 1700 BST on 16 August, or declare that it did not intend to make an offer.

The deadline could be extended with the consent of the Takeover Panel.

Praxis said it would provide further updates as appropriate.

At 1225 BST, shares in Capital & Regional were up 1.4% at 65p.

Reporting by Josh White for Sharecast.com.

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