UK: Enterprise becomes UK biggest landlord in Laurel deal

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Enterprise Inns has agreed to buy 1,860 pubs from Laurel Pub Holdings in a deal worth £875m. Enterprise will become the UK's largest landlord. The purchase from Laurel Pub Holdings, a subsidiary of Deutsche Bank, is to be financed through new debt and rights issues. Enterprise runs around 3,500 pubs and has been on an aggressive acquisition spree of late. It was recently part of a group that bought Nomura's pub estate.

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