Popped corks as Greene King-Spirit pub partnership gets green light Pub operator Greene King yesterday toasted the competition watchdog’s approval of its £774m takeover of Spirit. The Competition and Markets Authority (CMA) said it was satisfied the proposed sale of 16 pubs by the combined group would fix concerns raised by the company’s acquisition of Spirit Pub Company, and would not be referring the [...]
Apax Global Alpha share price rises after IPO as parent floats new listed vehicle on London market Shares in Apax’s new £585m listed fund Apax Global Alpha rose nearly five per cent as trading kicked off in the stock on the London stock exchange yesterday. The private equity firm raised £218.2m from investors last week to float the fund on London’s main market. The vehicle is comprised of investments made by Apax [...]
Greene King leaps last hurdle in Spirit merger Greene King moved within touching distance of completing its takeover of Spirit Pub Company yesterday after announcing the acquisition was no longer subject to regulatory approval. The announcement that the company had waived approval from the Competition and Markets Authority (CMA) means the acquisition is expected to take place within weeks. Last [...]
Competition probe into Greene King’s Spirit Pub takeover moves on to consultation stage June 4, 2015 Greene King’s proposals to the Competition Market Authority (CMA) regarding its acquisition of the Spirit Pub Company reached consultation stage yesterday. The consultation comes after the regulator raised concerns about the £774m merger shortly after it was announced in May. At the time the authority said the current proposal would “substantially” lessen competition in the [...]
Greene King and Spirit deal gets amber light from market regulator May 11, 2015 The Competition and Markets authority (CMA) yesterday gave pub company Greene King and Spirit a week to sort out hurdles that could halt their planned £774m merger. The authority said the current proposal would “substantially” lessen competition in the pubs sector. However, it pointed to difficulties in only 16 locations, which is small considering that [...]
Spirit Pub raises a glass to fizzing rise in profits as Greene King merger looms April 29, 2015 Spirit Pub Company toasted a strong rise in earnings yesterday after it reported a 12 per cent gain in half year profits. The pubs group, which has 1,211 boozers concentrated in London and the south east, added £3m of pre-tax profits to take the haul for the six months ending 7 March to £25m. Strong [...]
Greene King and Spirit Pubs in £773m takeover November 4, 2014 BRITISH pub retailer and brewing giant Greene King finally reached agreement yesterday over the long-mooted takeover bid of compatriot brewer Spirit Pubs. Greene King’s offer – worth £773.6m, at 115p a share – has been accepted by Spirit Pubs’ senior management. The arrangement will see Greene King shareholders take 71.1 per cent in the newly [...]
Greene King ups bid for Spirit Pubs to 109.5 pence per share October 20, 2014 Brewing giant Greene King has upped its bid for pub chain Spirit Pubs after its previous offer was rebuffed. The maker of ales such Old Speckled Hen and Abbot Ale is offering 109.5 pence per share for its 750 managed and 450 leased pubs, comprising 0.1322 Greene King shares and a cash payment of eight [...]
Spirit pubs knocks back Greene King September 23, 2014 PUB AND brewing giant Greene King confirmed it has made a £700m takeover offer for the 1,200 pub chain Spirit Pubs. While Spirit Pubs confirmed the 100p per share bid, it said it had rejected as “it undervalued Spirit and its attractive prospects”.
Spirit pubs selling more pints September 3, 2014 SPIRIT Pub Company’s like-for-like sales were ahead of the market in the fourth quarter as value-for-money deals attracted more customers to its franchises, boosting full-year expectations. Shares in the company, which was split from Punch Taverns in 2011, closed up 1.3 per cent. Like-for-like sales rose 2.1 per cent at managed pubs in the 12 [...]