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Punch Taverns debt restructure launches

Punch launches proposed debt restructure

By John Harrington, M&C Report

Punch Taverns has announced the launch of its restructure, which had been delayed from last Monday, saying that its new structure is set to be in place from 8 October subject to approval from creditors.

Punch Taverns proposes debt-for-equity swap

Punch proposes debt-for-equity swap

By Mark Wingett

Punch Taverns has this morning published details of revised restructuring terms, which differ in a number of ways from the terms of the restructuring launched by the company in January, including a debt for equity swap that would see bondholders take...

Shepherd Neame to overhaul its share capital structure

Shepherd Neame to overhaul its share capital structure

By John Harrington

Shepherd Neame, the Kent-based brewer and pub operator, has announced that it intends to simplify its share capital structure as it reports a period of continued strong trading during the spring months.

Greg Mulholland renews attack on Ted Tuppen

Greg Mulholland renews attack on Ted Tuppen

By Gurjit Degun

Pro-pubs MP Greg Mulholland has renewed his attack on Enterprise Inns boss Ted Tuppen, saying that the pubco has left “tenants struggling to make a decent living”.

Lewis ups stake in M&B again

Lewis ups stake in M&B again

By Mark Wingett

Joe Lewis, the largest shareholder in Mitchells & Butlers (M&B), has upped his stake in the managed pub operator for the second time in a week, further fuelling speculation that he will mount a further bid for the company next year.

Piedmont withdraws interest in M&B

Piedmont withdraws interest in M&B

Piedmont, the investment vehicle of Bahamas billionaire Joe Lewis, has withdrawn its interest in Mitchells & Butlers (M&B), the managed pub operator.

Lewis defends his position on M&B

Lewis defends his position on M&B

By The PMA Team

Billionaire Mitchells & Butlers (M&B) shareholder Joe Lewis has rebutted claims made in the Publican’s Morning Advertiser (PMA) leader last week, written by group editor The PMA Team, that claimed he is exerting a negative influence on the company.

Charity: concern of wider impact of M&B purchase

Lewis’s move on M&B should worry all of us

By The PMA Team

My money is on Mitchells & Butlers (M&B) being taken private some time very soon. Billionaire trader Joe Lewis has been exerting ever greater control on the company for some time.

Lewis tries to buy M&B ‘on the cheap’

Lewis tries to buy M&B ‘on the cheap’

By The PMA Team

The Bermudan billionaire Joe Lewis has been accused of trying to buy Mitchells & Butlers on the cheap after indicating that his Piedmont investment vehicle is thinking about tabling a 230p bid for the 77% of the company he does not own.

Greene King takes majority stake in Capital

Greene King takes majority stake in Capital

By John Harrington, M&C Report

Greene King became the majority shareholder in Capital Pub Company yesterday after buying a further batch of shares worth £4.244m. The Suffolk...

Greene King: close to Capital takeover

Greene King takes stake in Capital to 46.1%

By John Harrington, M&C Report

Greene King is a step closer to acquiring a majority stake in Capital Pub Company after taking its stake in the London operator to 46.1%.

Fuller's: disappointed with bid rejection

Capital Pub Co rejects Fuller's bid

By Ewan Turney

London brewer and pub operator Fuller's has had a £53.9m bid for the 34-strong Capital Pub Company rejected. Fuller's has had two bids rejected and urged Capital to engage in discussions.

Pubs: an investment opportunity, says Paul Hickman

Pub sector on upward course

By Mark Wingett, M&C Report

The view that the UK pub market is over-indebted and under-performing is at least two years out of date, says a new report.

Punch will hold a strategic review tomorrow

'Measured approach' likely from Punch

By The PMA Team

A leading analyst has said that although there is a myriad of options available to Punch Taverns in regard to tomorrow's strategic review, the most...

Dyson: review due in January

Punch execs get easy ride at AGM

By Ewan Turney

Punch Taverns executives got an easy ride from shareholders at its Annual General Meeting. Shareholders had been expected to take Punch to task on...

Dyson: controversial pay package

Punch's Dyson in line for £4.6m

By Mark Stretton, M&C Report

The new boss of Punch Taverns could earn nearly £4.6m this year as a result of a controversial pay package. Ian Dyson, the former finance director...

Dyson: added to shares he holds in Punch

Dyson hoovers up Punch shares

By Ewan Turney

New Punch Taverns chief executive Ian Dyson has bought 100,000 shares in the company for £65,850. Former Marks & Spencer finance director Dyson...

Luminar: share price dip

Goldman: Luminar in danger of covenant breach

By Mark Stretton, M&C Report

Analysts at Goldman Sachs have warned that Luminar, Britain's biggest nightclub group, is in danger of breaching banking covenants. The banking...

Whitbread denied speculation

Whitbread: no plans for equity issue

By Ewan Turney

Whitbread has said it has no intention of raising funds to pay down debt through the issue of equity. Responding to a report in the Independent on...

Enterprise Inns: shares sold in part to pay off taxes from incentive awards

Enterprise bosses net £580k from share sale

By Ewan Turney

Enterprise Inns directors sold shares worth around £580,000 last week, following a rise in the share price. Shares in the pubco rose by around 30%,...

M&B: new chairman appointed

M&B: Laffin out, Lovering in

By M&C Report

Simon Laffin has been voted out of the Mitchells & Butlers (M&B) boardroom this afternoon and will be replaced by John Lovering as chairman.