Pub group cheered by property portfolio sale
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... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...