NewRiver REIT PLC - real estate investment trust focused on UK retail and leisure assets - UK Competition & Markets Authority says Tuesday it has accepted in principle an offer by Admiral Taverns to sell seven pubs in order to gain approval for its GBP222.3 million acquisition of Hawthorn Leisure REIT Ltd from NewRiver REIT. The community pub business has 674 locations and 7 of these are in areas where the CMA has competition concerns. The regulator invited comment on the decision, giving a November 30 deadline. Beer and cider maker C&C Group PLC has a minority investment in Admiral.
Current NewRiver REIT stock price: 74.20 pence, up 1.1% Tuesday
Year-to-date change: down 12%
By Tom Waite; thomaslwaite@alliancenews.com
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C&C Group (CCR)
NewRiver (NRR)