By Denis Sheehan, Publisher, H&C News: Stonegate reported to be lining up sale of 75 pub portfolio.
Sky News City Editor, Mark Kleinman is reporting Britain’s biggest pub operator Stonegate Group, controlled by private equity firm TDR Capital exploring the sale of 75 pubs, code-name Project Silver.
Kleinman quotes city sources saying that real estate investment bank Eastdil, and Sapient Corporate Finance are already engaged and working on the deal.
The 75 pubs are understood to be located mainly in London and the south-east and Free-of-Tie.
The report does not go into detail, and cites difficulties in hospitality as one possible reason for the sale, as well as stating a Stonegate spokeswoman declining to comment to Kleinman on the news.
The 75 pub portfolio reported to be for sale is a tiny proportion Stonegate’s 4,500 site estate.