P505    Teletext   505 Jul18 23:25:41
  
 U 
  
 ——————  ——————————————————— 
 PUNCH BUYS AVEBURY ESTATE FOR £219m    
                                        
 Pubs group Punch (averns is to buy     
 privately-owned rival Avebury Holdings 
 for £219m, which includes taking on    
 £120m of the group's debts.            
                                        
 Avebury has an estate of 409, mainly   
 'local' pubs across England and Wales  
 to add to Punch's 7,800 existing pubs. 
 The deal is expected to deliver returns
 within the first year of acquisition.  
                                        
 Punch added its pubs are seeing "steady
 growth" and trading in line with hopes.
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  Regent calls time on Urbium pursuit > 
    ACCIDENT ADVICE HELPLINE ITV1 p385  
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   P505    Teletext   505 Jul18 23:15:15
  
  
  
 ——————  ——————————————————— 
 REGENT CALLS TIME ON URBIUM PURSUIT    
                                        
 Regent Inns, which last month launched 
 an £83m bid for rival Urbium, owner of 
 the (iger Tiger bar chain, said it is  
 calling off its takeover attempt.      
                                        
 The group, known for its Walkabout bars
 and Jongleurs comedy chain, made a     
 final offer worth £101.1m last Tuesday.
 It was again rejected by Urbium, which 
 claimed it had other potential suitors.
                                        
 The rebuff was "unnecessarily hostile" 
 and "a lost opportunity", said Regent. 
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  Punch buys Avebury estate for £219m = 
        CITY NEWS HEADLINES p500        
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