Whitbread PLC
30 November 2000
Whitbread PLC
Information Memorandum on Pubs and Bars Division
The Board of Whitbread announces that it is today issuing
an information memorandum on its Pubs and Bars Division.
Since the announcement last month that Whitbread proposed
to maximise value for shareholders by unlocking the full
value of its Pubs and Bars Division and returning
approximately 75 per cent. of the net proceeds to those
shareholders, it has received approaches from a
significant number of third parties. Given the level of
interest, the information memorandum is being sent only
to selected parties who have expressed an interest to
acquire all or a significant part of the pubs and bars
businesses. Whitbread is seeking initial responses from
these potential buyers by early in the New Year.
A further announcement will be made in due course.
The Chairman of Whitbread, Sir John Banham, said:
'The degree of interest shown by prospective purchasers
is testament to the quality of the earnings and the
management of Whitbread's pubs and bars businesses, which
continue to outperform the market. This is good news for
Whitbread shareholders.'
Enquiries:
Whitbread PLC
David Reed +44 (0)20 7615 1324
Jeremy Probert +44 (0)20 7615 1445
Dresdner Kleinwort Benson +44 (0)20 7623 8000
David Barclay
Nigel Binks
Gavin Anderson & Company +44 (0)20 7457 2345
Fiona Grant Duff
Laura Hickman
Kleinwort Benson Limited ('Dresdner Kleinwort Benson'),
which is regulated in the United Kingdom by the
Securities and Futures Authority Limited, is acting for
Whitbread and for no one else in relation to the matters
discussed herein and will not be responsible for anyone
other than Whitbread for providing the protections
afforded to its customers or for providing advice in
relation to the matters discussed herein.
*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;
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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.
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