Pub group cheered by property portfolio sale

The Plough, Harborne
EI Group has received £337m after completing the sale of the majority of a 370-property portfolio to a US hedge fund. The Solihull-based pub group, which used to be called Enterprise Inns, has finalised a deal for 348 of the properties with Davidson Kempner Capital Management. The remaining 22, which will add a further £11m to the overall deal value, are expected to complete after receiving landlord consent. EI intends to use the proceeds from the sale to repay and cancel the outstanding £35m balance on the group's £50m ter... For the full story register now for free or login below...