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Mon 4th Dec 2017 - Update: Laine acquires Distinct Group pub estate, Elegant Hotels ends sale talks
Laine acquires Distinct Group pub estate: Multiple pub operator and brewer The Laine Pub Company, which is backed by Luke Johnson, has acquired the four-strong, leasehold pub estate of the Distinct Group. The acquisition of the Distinct Group pubs takes the company’s total estate to 60 pubs operating in the London and Brighton areas. Savills acted on behalf of Laine in the acquisition of the Distinct Group estate, which comprises the Prince Albert in Camden, the Edward Lear in Holloway, the Three Compasses in Hornsey and the Adam & Eve in Mill Hill. Laine chief executive Gavin George said: “The Distinct Group team has created an estate of high-quality pubs, which they have traded to an equally high standard. We are very excited to be welcoming the pubs’ staff into Laine’s family and are looking forward to applying our resources and experience to support them in meeting their trading aspirations.” The acquisition was managed by Laine’s chairman Gary Pettet, who added: “We are delighted to have secured these excellent pubs for our estate and are pleased that they strengthen our presence north of the river, in fantastic locations. I would like to thank Gareth (Leakey) and the Distinct Group for the professional manner in which they handled the sale and I wish them well with their continued focus on hotel accommodation.” Leakey said: “Gary, Gavin and Laine’s team have been very easy to deal with from the outset, and I have no doubt that this is the start of an exciting journey for the Distinct pubs and the great staff that work within them.”
Elegant Hotels ends sale talks with Melia: Elegant Hotels Group, in which leisure sector investor Luke Johnson has a 12.5% stake, has confirmed it received an approach from Spanish operator Melia Hotels but talks over a sale have ended. The company stated: “The board of Elegant Hotels notes the recent press speculation concerning the possibility of an offer being made for Elegant Hotels. The board of Elegant Hotels announces it had received an approach from Melia Hotels International SA (Melia Hotels) relating to a possible all cash offer for all of the issued and to be issued share capital of the company, which may be made by Melia Hotels or one of its investment affiliates. The company further announces discussions with Melia Hotels have now been terminated, and Melia Hotels does not intend to make an offer to acquire the entire issued and to be issued ordinary share capital of Elegant Hotels. This announcement is made in accordance with Rule 2.8 of the code. As a result of this announcement, Melia Hotels will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in rule 2.8 of the code.”

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