The Royal Bank of Scotland (RBS) has reportedly put its 1,000 pub estate up for sale, according to a report in the Financial Times. The bank is seeking a buyer for the freeholds, which include the Punch Bowl in Mayfair. The portfolio is estimated to be worth more than £600 mln (EUR 669 mln). The bulk of it was acquired from Scottish & Newcastle (S&N), the brewer now controlled by Heineken, between 2000 and 2001, for about £450 mln. The transaction included an agreement that S&NPE should manage the pubs for a minimum of 10 years.
Premium subscriber content – please log in to read more or take a free trial.
