Deal snapshot: WHITBREAD INKS GBP 84.5M SALE, LEASEBACK DEAL ON LONDON HOTEL.
UK-based hotel, coffee shop and restaurant company Whitbread plc (LSE: WTB) has inked the sale and leaseback of its 389 room Hub by Premier Inn hotel in Kings Cross, London, the company said.
Whitbread said in April that it is planning to carry out sale and leaseback transactions this year with proceeds of GBP 100m to GBP 150m. As part of this, Whitbread has exchanged agreements with Legal and General for the sale and leaseback of its 389 room Hub by Premier Inn hotel in Kings Cross, due to open in 2017, in exchange for a 25 year lease agreement.
Target: Hub by Premier Inn hotel in Kings Cross, London
Buyer: Legal and General
Deal size in USD: 112.19m
Buyer advisor: , ,
Comment: Sale and leaseback deal
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|Publication:||M & A Navigator|
|Date:||Jul 13, 2016|
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