UK: Spirit pre-empts float with pubs sale - report
Spirit Group is looking to sell around 300 pubs, according to press reports. The Times said over the weekend that the sale is a prelude to the pub operator floating on the stock market some time next year.
The company, which acquires Scottish & Newcastle Retail 12 months ago for £2.5 bln, runs over 2,400 pubs.
The newspaper said that Spirit Group is understood to have appointed Deutsche Bank as adviser to the sales process, but a final decision has yet to be taken on how many pubs will be sold.
A source told the Times: "It is still some way from sending out an information memorandum."
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