Growthpoint Properties Limited’s Investment In Capital & Regional plc

Simmons & Simmons advised Growthpoint Properties Limited on its substantial investment in Capital & Regional plc.

Capital & Regional is a UK focused retail property REIT, specialising in shopping centres. It has an impressive portfolio of in-town shopping centres valued at approximately £764m. Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green.

The investment comprised a recommended partial offer to acquire nearly 220 million Capital & Regional shares (representing approximately 30.2 per cent of C & R’s shares) for approximately £72.5m and a subscription for approximately 311 million new C&R shares, raising c. £77.9m. Following completion of the transaction in December 2019, Growthpoint (or its nominees) holds approximately 51.2 per cent of C&R.

Corporate partners Ed Baker (Picture) and Patrick Graves led the Simmons & Simmons team supported by (among others) Mark Curtis, Thomas Burgoo, Tom Fricke, Ece Aygar, Abigail Boyce, Ciara McMahon, Ed Robson (Corporate), Martin Shah, Mark Watterson (Tax), John Sayers, Imran Iqbal-Mian (Banking), John Kelsey, James Curry (Real Estate), Tair Hussain (Incentives), Charles Bankes and Ian Hastings (Competition).

Involved fees earner: Ece Aygar – Simmons & Simmons; Edward Baker – Simmons & Simmons; Charles Bankes – Simmons & Simmons; Abigail Boyce – Simmons & Simmons; Thomas Burgoo – Simmons & Simmons; James Curry – Simmons & Simmons; Mark Curtis – Simmons & Simmons; Tom Fricke – Simmons & Simmons; Patrick Graves – Simmons & Simmons; Ian Hastings – Simmons & Simmons; Tair Hussain – Simmons & Simmons; Imran Iqbal-Mian – Simmons & Simmons; John Kelsey – Simmons & Simmons; John Sayers – Simmons & Simmons; Martin Shah – Simmons & Simmons; Mark Watterson – Simmons & Simmons;

Law Firms: Simmons & Simmons;

Clients: Growthpoint Properties Limited;