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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.
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