Enterprise Inns bought by Stonegate Pub Company

By | July 19, 2019

Enterprise Inns now bought by Stonegate Pub Company

• EI Group has this morning confirmed Bloomberg reports that TDR Capital, which owns the Stonegate Pub Co amongst other investments is to make an agreed bid for the company.

• The deal is at 285p in cash. See Premium Email.

STONEGATE AND EI GROUP TO FORM LARGEST PUB COMPANY IN THE UK: Another leisure company goes private. Here a few thoughts on the merger. 19 July 2019: Go to LINK below.

• Bloomberg had reported that ‘a deal could be announced as soon as this week.’ It says ‘no final decisions have been made and the discussions may not lead to a transaction… EI Group, which owns more than 4,400 British pubs, has a market value of about 902 million pounds.’

• EI Group shares are up around 32% this year to date. The company has been successfully transitioning from a purely tenanted and leased operation to one that has managed houses, speciality operations and free-of-tie leases in addition to its more traditional pubs.

• Bloomberg says ‘a representative for TDR declined to comment. EI didn’t immediately respond to requests outside of regular business hours.’ The deal is now on the screens.

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