Plenty more rooms at the Stakis inn
Article Abstract:
Stakis was in a very weak financial position in the early 1990s, but has benefited greatly from focusing on its casino and hotel operations, according to chief executive David Michels. It sold off non-profitable businesses, including Ashbourne Homes, and then began acquiring hotels. Its largest purchase has been a 327 million pounds sterling deal for Metropole, which involved a 222 million pounds sterling rights issue. It believes that it can make good returns out of the five Metropole hotels.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1997
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The role of the Council of Forte
Article Abstract:
Forte PLC was formed in 1903 when it was known as the Hertfordshire Public House Trust Co. At its foundation, a Council of Trustees was established that had the power to control special trust shares, giving it a majority voting right even though it held less than one per cent of equity. Following Granada Group PLC's hostile takeover bid for Forte in November 1995, the Council of Forte played a crucial role in the eventual acquisition. The Council's role in the bid is discussed.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1996
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Alchemy Partners to spend more time in pubs
Article Abstract:
Venture capital company Alchemy Partners has purchased public houses group The Alehouse Company for 11.2 million pounds sterling. The purchased group, which owns 103 tenanted freehold public houses, was bought as part of Alchemy's strategy to expand into the hospitality industry. Alchemy company representatives believe that the pubs will perform well with help from Alchemy. The acquisition was financed by NatWest Markets group.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1997
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