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Travers Smith advises on partial offer and share subscription by Growthpoint for majority stake in Capital & Regional

Overview

Travers Smith LLP is advising Numis Securities Limited and J.P. Morgan Cazenove in their roles as joint financial advisers (and, in the case of Numis, Rule 3 adviser and sponsor) to Capital & Regional plc (“Capital & Regional”) in connection with the recommended £72.5 million partial offer and £77.9 million share subscription for a majority stake in Capital & Regional which has been announced by South Africa’s largest listed REIT, Growthpoint Properties Limited (“Growthpoint”).

The appointment continues Travers Smith’s longstanding role as advisers to the investment banks in relation to Capital & Regional. The transaction is a complex combination of advice on the Takeover Code and Listing Rules as well as interaction with the REIT rules in the UK and South Africa. Capital & Regional is listed on the Official List of the London Stock Exchange as well as the JSE in South Africa.

 

The Travers Smith team is being led by Partner Aaron Stocks and also includes Senior Associates Stuart MacKenzie, Leigh Stockey and Rachael Potts.

 

Aaron Stocks commented: “We are delighted that the recommended transaction has been announced and well received by the market. We look forward to continuing to work with Numis, J.P. Morgan Cazenove and Capital & Regional to ensure the transaction is ultimately successful."