Rank Group PLC
4 September 2000
THE RANK GROUP PLC ANNOUNCES THE DISPOSAL OF TOM COBLEIGH
The Rank Group Plc announces the sale of Tom Cobleigh to Electra
Partners Europe for a cash consideration of £90 million. In
addition, Electra Partners Europe will assume working capital
liabilities of approximately £5 million.
Tom Cobleigh currently operates 87 managed pubs and 23 tenancies
within the UK. For the year ended 31 December 1999, Tom
Cobleigh's turnover was £59 million and its operating profit
before exceptional items was £8 million. Net assets as at 31
December 1999 were £135 million.
The proceeds will be used to reduce group indebtedness.
Enquiries:
The Rank Group
Kate Ellis-Jones, Investor Relations - 020 7535 8031
The Maitland Consultancy - 020 7379 5151
Laura Frost
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.