21st Oct 2019 07:46
(Alliance News) - Capital & Counties Properties PLC could be subject to a takeover offer from a consortium led by Candy Ventures Sarl, the investment fund said on Monday.
Candy Ventures is fronted by Nicholas Candy, a developer of luxury properties. The company added that there was no certainty that it would mount an acquisition bid for the London- and Johannesburg-listed firm.
Candy must announce its intention to make a takeover offer by November 18.
Shares in property investor Capital & Counties closed 1.1% higher at ZAR47.36 in Johannesburg on Friday. In London, the FTSE 250 stock closed 1.9% higher at 249.80 pence each.
Capital & Counties has been in the process of demerging its Covent Garden and Earls Court property portfolios in London.
By Eric Cunha; [email protected]
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