Heineken buys 918 British pubs
IOL Business - Dec 5th 2011, 08:15
Amsterdam - Dutch brewer Heineken NV says it has purchased Galaxy Pub Estate, owner of 918 pubs in Britain, from Royal Bank of Scotland PLC for 412 million pounds ($646 million) in cash.
The pubs that Galaxy owns are already managed by Heineken's subsidiary Scottish & Newcastle. Heineken says it plans to combine the Galaxy properties with 462 other bars it owns in Britain, making it one of the country's largest pub owner and operators.
Heineken said the properties purchased had an operating profit before depreciation and amortization of 52.3 million pounds ($82
million) over the last 12 months.
Heineken will take a charge of 28 million pounds ($44 million) in the fourth quarter for terminating leases and other costs associated with the acquisition. - Sapa-AP
Sales at Truworths Africa outperform its UK business
12/11/2019 - 13:24
Truworths, which was forced to write down its UK business by a third recently, said that retail sales in that country were flat in the 18 weeks to November 4, although its African operations performed better.
Why are these five UK retailers thriving as most others battle?
12/11/2019 - 10:32
British shops are being battered as the shift to e-commerce, intense competition and the fallout from Brexit cause catastrophic levels of store closures and job cuts.
AB InBev revives its offering for Apac in Hong Kong
01/10/2019 - 11:39
Anheuser-Busch InBev (AB InBev) has revived its failed initial public offering (IPO) in Hong Kong by offering 1.26 billion shares of a minority stake of its Asia Pacific subsidiary, Budweiser Brewing Company Apac, and the world’s largest brewer is hoping to raise $5 billion (R74.4bn) on listing.
Profits fall at Aldi UK but continuing expansion drive
18/09/2019 - 10:35
Aldi’s British and Irish arm saw its profits fall by more than a quarter last year due to price cuts and investment in its infrastructure. However, the discounter reaffirmed its plans to continue its rapid expansion, with London now a key area of focus.
RDI Reit offloads German shopping centre for €91m
18/09/2019 - 10:23
RDI Reit said on Wednesday it is making progress in offloading its German assets after selling its Bahnhof Center in Hamburg for €91m (R1.47bn).