Allied sends out pub sale details
Tuesday 03 August 1999
ALLIED DOMECQ said yesterday it had received no formal offers to rival the planned sale of its British pubs to privately owned Punch Taverns for pounds 2.75bn. An Allied spokesman confirmed that a circular outlining the sale had now been sent to shareholders on Punch deal. Shareholders will vote on it on 23 August.
"The board will not consider any formal offers that are posted now." the Allied spokesman said. Any bidders could appeal directly to shareholders but that is thought unlikely. Allied said when it announced the Punch deal on 20 July that two other unnamed parties had expressed an interest in acquiring the UK retail business of some 3,500 pubs.
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