LONDON: NewRiver REIT plc and Capital & Regional plc have agreed on a cash and share offer, where NewRiver will acquire the entire share capital of Capital & Regional. This merger will be executed through a scheme of arrangement under Part 26 of the Companies Act. For each Capital & Regional share, shareholders will receive…
LONDON: NewRiver REIT announced the acquisition of Ellandi Management Limited, an asset and development management business focused on UK retail and regeneration. This acquisition provides NewRiver’s existing Capital Partnership business with additional scale and diversification, as well as introducing complementary experience of managing destination shopping centres and regeneration projects, and is consistent with NewRiver’s strategy…
LONDON: The Board of NewRiver has officially acknowledged its proposal to merge with Capital & Regional, subject to approval from Growthpoint Properties Limited, the majority shareholder of Capital & Regional. The proposal entails a potential offer in cash and shares for the complete share capital of Capital & Regional. While NewRiver has yet to communicate…
LONDON, UK: NewRiver REIT plc has entered into an agreement for the sale of the entire issued share capital of Hawthorn Leisure REIT Limited to AT Brady Bidco Limited for a gross aggregate cash consideration of approximately £222.3 million. Allan Lockhart, Chief Executive of NewRiver, commented: “Over recent years, we have grown Hawthorn to become…
LONDON: NewRiver REIT announced that its joint venture with BRAVO Strategies III LLC in which it holds a 10% stake has exchanged contracts to acquire The Moor, a 28 acre estate in Sheffield city centre, from CEP ASI UKPF Nominee 1 Limited and CEP ASI UKPF Nominee 2 Limited, for total consideration of £41 million,…
LONDON, UK: NewRiver REIT announced the acquisition of community pub company Bravo Inns Limited for £17.9 million, representing an EBITDA multiple of 6.8x. The transaction is expected to generate annualised outlet EBITDA of £2.6 million, equating to a yield on cost of 14%, which excludes £0.3 million of synergies expected to be realised through the…
LONDON: NewRiver REIT announced that its joint venture with BRAVO Strategies III has exchanged contracts to acquire Poole Retail Park in Dorset, from LS Poole Retail Limited for total consideration of £44.7 million, reflecting a net initial yield of 8.0%. NewRiver will hold a 10% interest in the asset (NRR share: £4.5 million) and NewRiver…