Whitbread to Sell Otterspool and Britannia Pubs
Whitbread has sold on both the Otterspool and Britannia pubs to Mitchells and Butlers. Mitchells & Butlers plc to acquire 44 pub restaurants from Whitbread PLC in exchange for 21 Express by Holiday Inn Lodges Following Mitchells & Butlers' stated intention to create additional value from its non-core assets, a swap of lodge assets for pub restaurants has now been agreed with Whitbread. Under the terms of the agreement, Whitbread will acquire 21 of Mitchells & Butlers' lodge sites (1245 rooms), currently trading under the Express by Holiday Inn brand, in exchange for 44 standalone …
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