Mitchells & Butlers (LON:MAB) has sold its non-core Hollywood Bowl business and associated assets for approximately £39m. The company will sell the chain of 24 ten-pin bowling venues for £27m in cash, and it expects to sell its remaining freehold property interests, in four of the sites, for at least £12m.
"This further disposal of non core assets is another important step towards focusing the business on our market leading growth brands," Mitchells & Butlers chief executive
Adam Fowle commented.
The initial £27m transaction is expected to complete on 13 August 2010.
Mitchells & Butlers is one of Britain’s largest pub companies, and its portfolio of brands include Harvester, Toby Carvery, Vintage Inns, Premium Country Dining Group, Crown Carveries, Sizzling Pub Co., Browns, Miller & Carter, Metro Professionals, All Bar One, Nicholson's and O'Neill's.
Last month, Mitchells & Butlers agreed the sale of the majority of its lodge business, plus the sale and leaseback of eight pubs, for £91m in total.
http://www.proactiveinvestors.co.uk/companies/news/19822/mitchells-butlers-sells-non-core-10-pin-bowling-chain-for-39m-19822.html
Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London.
No comments:
Post a Comment