While the exact details of the proposed offers from either Vukile (VKE) or NewRiver REIT is not available yet, we offer an overview of Capital and Regional’s (C&R) contribution to Growthpoint’s (GRT) distributable income and LTV. We present a sensitivity analysis of how possible offer prices would impact distributable income and LTV’s for both GRT and VKE. We also provide the segmental profit and loss information for C&R from GRT’s annual reports from purchase in 2020. We use R2.8bn as a base case offer price for 68.1% (R4.11bn for 100%), which is a 25% premium to the closing value of Capital and Regional Plc on 24 May 2024.
