January 25, 2019 / 8:27 AM / 4 months ago

UK's Fuller, Smith & Turner to sell beer business to Japan's Asahi

Jan 25 (Reuters) - British pub operator and brewer Fuller, Smith & Turner said it had agreed to sell its beer business to a European unit of Tokyo-based Asahi for an enterprise value of 250 million pounds ($327 million) on a debt and cash free basis.

Shares of the pub operator jumped 21 percent.

Fuller, which looks to be a focused, premium pub and hotel operator after the disposal, said the business being sold comprises its beer, cider and soft drinks brewing and production, wine wholesaling and distribution among others.

$1 = 0.7642 pounds Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D'Silva

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below