New Europe Property Investments, the property investment company, has made a takeover offer for Carpathian, the Central European property specialist that was formerly part of the Dawnay, Day empire.

NEPI said in a stock exchange announcement that it has approached the board of Carpathian with an offer to acquire the entire issued share capital at a price of €0.20 a share in cash, valuing the company at €46.4 million (£41.2 million).

The Times