LONDON--Capital & Regional PLC (CAL.LN), a specialist retail property company, said Friday it is buying Aviva PLC's (AV.LN) 52.04% stake and Karoo's 10.52% stake in the Mall Fund for 213 million pounds ($361.41 million), taking its interest to 91.82%.
Capital & Regional plans to fund the acquisition with cash and debt funding, together with an GBP165 million equity fund raising.
The Company will issue 351.06 million new ordinary shares at 47 pence per share, of which 280.81 will be issued via the 53-for-66 open offer.
Shares at 1205 GMT unchanged at 48 pence valuing the company at GBP168 million.-Write to Ian Walker at firstname.lastname@example.org
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(END) Dow Jones Newswires
June 20, 2014 08:24 ET (12:24 GMT)
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