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BUZZ-Capital & Regional: Surges as Growthpoint acquires majority stake

Thu 17th October, 2019 10:30am
** Shares of specialist REIT  CAL.L  rise as much as ~25% to
26.55p, set for their best day in almost five years
    ** Signs an agreement with Growthpoint Properties  GRTJ.J ,
which will give the South African firm a 51.2% stake in the
British shopping centre landlord  urn:newsml:reuters.com:*:nASP00186T
    ** Investment comprises a partial offer to acquire 219.8 mln
CAL shares at 33 pence each and a subscription to acquire 311.5
mln new CAL shares at 25 pence per share
    ** The partial offer values CAL at 239.7 mln pounds 
($307.15 mln), a 55% premium to its market cap of 153.8 mln
pounds according to Refinitiv data 
    ** Shares hit near 7-month peak and outperformed the FTSE
small-cap index  .FTSX  by 8.6% in Sept
    ** Shares are up 21% since company revealed last month it
was in talks with Growthpoint regarding the investment


($1 = 0.7804 pounds)

 (Reporting by Shanima A in Bengaluru)
 ((shanima.a@thomsonreuters.com))
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