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Deal snapshot: WHITBREAD INKS GBP 84.5M SALE, LEASEBACK DEAL ON LONDON HOTEL.

MANews-(C)2009-2016

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.

Country: UK

Sector: Hotels/Restaurants/Casinos/Catering

Target: Hub by Premier Inn hotel in Kings Cross, London

Buyer: Legal and General

Vendor: Whitbread

Deal size in USD: 112.19m

Type: Divestment

Financing: Cash

Status: Agreed

Buyer advisor: , ,

Comment: Sale and leaseback deal

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Publication:M & A Navigator
Geographic Code:4EUUK
Date:Jul 13, 2016
Words:145
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