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LONDON-Executives of Segro, an industrial-focused real estate investment trust, said they have approached Brixton to purchase struggling company. The potential takeover has been rumored for awhile, although Segro was not the assumed partner.

A release about the discussions stated that Segro has “no certainty that an offer for Brixton will be forthcoming,” although the boards of both companies are discussing the matter.

According to a report in Property EU Brixton said earlier this year that it was in talks with several potential parties.

Brixton has not said whether it will actually go forward with a sale. In a release, company executives say, “The Board of Brixton continues to progress its options to provide the Group with additional financial flexibility. These options include a restructuring of the Company’s debt arrangements, a potential equity raising and further asset disposals.”

Brixton’s net asset value saw a huge decline in the first quarter, falling 46.8% according to reports. The company faces $1.03 billion worth of debt set to mature by December 2010.

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