Friday, March 27, 2009

MA 26.03.09

Punch sells six pubs to Fuller's for £21m

Heard of one multiple operator (who has several freeholds as well as tied leases) who's discussing buying Punch leaseholds. Says they are being hard on price but holds out hope for success on the basis that Punch will be negotiating with bondholders to buy their debts at knock down rates which will in turn reduce Punch's need to sell properties at over inflated prices.

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