Fuller, Smith & Turner (FSTA.L) has agreed terms to sell a portfolio of pubs from its Tenanted Inns Division to Admiral Taverns Limited. The cash sale proceeds for the portfolio is 18.3 million pounds. Following completion, Fuller's will have 154 pubs within its Tenanted Inns Division.
Fuller, Smith & Turner believes that the disposal allows it to focus on the development of retained Managed and Tenanted estates. The Group said the proceeds from the sale will further strengthen its balance sheet, enabling additional investment in its pubs, as well as supporting future acquisition opportunities, as appropriate.
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