LONDON – LAWFUEL – Press Release Service – Allen & Overy is advising Mitchells & Butlers (the UK’s biggest managed pub operator) on the £497m acquisition of 239 pub restaurant sites from Whitbread plc. The sale, which consists of 235 pub restaurants and 4 pub restaurants under construction, will be completed on 28 July 2006.
The portfolio acquired through the deal contains sites considered to be amongst the best in the UK because of their scale, demographics and location, approximately half are in the higher growth areas of the South East and South West of the UK. The sites will be converted to the Mitchells & Butlers brands which include All Bar One, Harvester and Toby Carvery.
Corporate partner Susan Howard leads the Allen & Overy team with corporate partner David Broadley and assistance from Colin Whittington, Adrian Brown (IT/IP) and Gareth Banfield (tax). Banking partners Andrew Bamber and associate Daniel Finch are advising on the debt facility.
Commenting, Susan Howard said: “We have advised Mitchells & Butlers for over 10 years on all its major pub deals so we are particularly pleased to work with them on this transaction which involved a competitive auction and a very short timeframe.”
For further information please contact Sarah Fitzpatrick ([email protected]) on +44 (0)20 7330 2395.