Suitor Praxis Group Ltd on Tuesday said it decided against making an offer for London-based real estate investment trust Capital & Regional PLC.

Praxis, a privately owned property company that specialises in shopping centres in the UK, in July became the third bidder that has shown interest in Capital & Regional this year.

Capital & Regional said Praxis made the move on July 5.

It followed takeover interest from NewRiver REIT PLC and Vukile Property Fund Ltd. Vukile withdrew its interest late in May.

Capital & Regional shares fell 7.3% to 64.00 pence each on Tuesday afternoon in London. In Johannesburg, its shares were up 0.3% at R 15.55 each.

Copyright 2024 Alliance News Ltd. All Rights Reserved.