City round-up - all the latest news
The Capital Pub Company has so far raised £4.46m through its second Enterprise Investment Scheme, launched in February. Last year the company raised close to £8m to start a London-focused pub company. Founders David Bruce and Clive Watson intend to list the company on AIM in two years time with a projected value of £25m.
Shares in Six Continents have risen 47.5p in little more than a week. The surge came off the back of speculation that the group is to launch a share buy-back programme to return some £1bn to investors. The group has been sitting on a cash war-chest since it sold its brewing interests to Interbrew.
Jamies Bars, the upmarket City-focused bar group, is in fresh talks with a potential suitor, which may or may not lead to a trade sale. The group, which runs 16 outlets, recently introduced lower-priced wines and food in an attempt to get more lunchtime trade after like-for-like sales fell 1.6 per cent.
Po Na Na, the publicly-quoted late-night bar operator is taking its Souk Bar concept to The Lanes in Brighton. The company will open its 26th Moroccan-flavoured bar in early May.
EasyGroup, the budget airline to internet conglomerate, has launched a hostel takeover bid. The company is entering the budget accommodation market with EasyHostel. Accommodation at the London-based youth hostels will start at £5-a-night.
A strong surge in the final quarter saw French drinks group Remy Cointreau post a 10 per cent sales rise for the 12 months to March. The company, which owns Remy Martin Cognac and Cointreau as well as other spirits and champagne brands, recorded revenue of €1.02bn for the year, against €925.6m the year before.
