Scottish & Newcastle, Britain’s biggest brewer, announced yesterday that it has won shareholder approval to sell its entire UK pubs estate.
Shareholders voted in favour of selling the 1,406 pubs for £2.51billion. Private equity backed Spirit Amber will buy the estate, freeing up S&N to focus on expanding its brewing in Europe.
Chairman Sir Brian Stewart also confirmed the group was still on target to meet its commercial and financial objectives for the year. He said there had been no major changes in trading which remains in line with market expectations.
