RBS sells 918 pubs
Royal Bank of Scotland (RBS) is to sell its tenanted pub business of 918 pubs to the Scottish and Newcastle Pub Company (S&NPC) for £418m.
Royal Bank of Scotland (RBS) is to sell its tenanted pub business of 918 pubs to the Scottish and Newcastle Pub Company (S&NPC) for £418m.
The business has been operated since 1999 by S&NPC under a management agreement. S&NPC is a subsidiary of Dutch brewer Heineken.
In the year ended 31 December 2010, earnings before interest, tax, depreciation and amortisation generated under the terms of the management agreement was £45m. As at 31 December 2010, the business's combined gross asset value was £406m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The sale is part of RBS's strategy of selling its non-core assets to pay off UK tax payers who ended up owning over 80% of the bank following the financial crisis of 2008.
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Why adversity creates opportunity
Discovering the best dividend-paying stocks means digging deep, biding your time and choosing your moment to buy, says Ross Mathison, deputy manager of The Scottish American Investment Company
By MoneyWeek Published
-
Are regular savings accounts worth it?
A 7% interest rate is eye-catching, but how much can you save in a regular saver account and how does the interest rate work exactly?
By Ruth Emery Published