Enterprise Inns is continuing to investigate becoming a REIT, according to Caterersearch.com. The news saw shares lifted more than 6% to 772p.
It joins other major pub groups in publicly considering such a move. Mitchells & Butler was considering it earlier this year, though now looks set to rule out the prospect in the short term as Punch Taverns did earlier this month. Will one of the other big groups (Marstons, JD Wetherspoon, Whitbread) take the plunge?
Edit 04/07/07 - It emerged today that Greene King is planning an operating company-property company split. It is looking for a joint venture partner for 35% of its estate not already used to back previous securitisations. The group’s unsecuritised estate of 872 pubs is valued at about £700 million.
Leave a comment
What a user pic? Get a Gravatar!