LONDON (Alliance News) - Conviviality Retail PLC on Thursday said its shares have been suspended after it entered into talks on a reverse takeover with Matthew Clark (Holdings) Ltd.
Matthew Clark is a UK drinks distributor joint-owned by Accolade Wines, the Australian wine business, and Punch Taverns PLC, the UK-based pub and bar operator.
Conviviality did not provide any details on the proposed takeover, but its shares have been suspended due to the deal constituting a reverse takeover. The off-license and convenience store chain owns the Bargain Booze and Thorougoods chains and has a market capitalisation of GBP103.7 million.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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