Greene King Shareholders Approve Spirit Pub Takeover

Alliance News
  • January 13th, 15:40
  • Last Updated: October 10th, 12:27

**Greene King Shareholders Approve Spirit Pub Takeover**

LONDON (Alliance News) – Greene King PLC’s shareholders approved its GBP773.6 million takeover of Spirit Pub Company PLC at an annual general meeting Tuesday.

“It is pleasing to have received such overwhelming support for this transaction from shareholders. The combination of Greene King and Spirit Pub Company will create the UK’s leading managed pub company and deliver significant value for shareholders through the capture of attractive synergies and anticipated earnings accretion,” said Chief Executive Officer of Greene Kind Rooney Anand in a statement.

Greene King agreed to acquire Spirit Pub in a deal that values Spirit shares at 115 pence per share last November. Following completion of the deal, Spirit shareholders will own around 28.9% of the combined company, with Greene King shareholders owning the remaining 71.1%.
Shares in Greene King are trading up 1.7% at 781.00 pence Tuesday afternoon, while shares in Spirit Pub are trading up 1.7% at 108.30 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.

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