Date: Friday 02 Dec 2011
LONDON (ShareCast) - Royal Bank of Scotland (RBS) is to sell its tenanted pub business of 918 pubs to the Scottish and Newcastle Pub Company (S&NPC) for £418m.
The business has been operated since 1999 by S&NPC under a management agreement. S&NPC is a subsidiary of Dutch brewer Heineken.
In the year ended 31 December 2010, earnings before interest, tax, depreciation and amortisation generated under the terms of the management agreement was £45m. As at 31 December 2010, the business's combined gross asset value was £406m.
The sale is part of RBS’s strategy of selling its non-core assets to pay off UK tax payers who ended up owning over 80% of the bank following the financial crisis of 2008.
BS
Email this article to a friend
or share it with one of these popular networks:
Currency | Euro |
Share Price | 78.95 |
Change Today | 0.55 |
% Change | 0.70 % |
52 Week High | 85.05 |
52 Week Low | 70.00 |
Volume | 162,201 |
Shares Issued | 288.03m |
Market Cap | 22,740m |
Beta | 0.40 |
Strong Buy | 1 |
Buy | 0 |
Neutral | 0 |
Sell | 0 |
Strong Sell | 0 |
Total | 1 |
Time | Volume / Share Price |
17:35 | 14 @ 78.95 |
17:35 | 15 @ 78.95 |
17:35 | 128 @ 78.95 |
17:35 | 106 @ 78.95 |
17:35 | 106 @ 78.95 |
You are here: research