Business
Disposal of Hollywood Bowl
Disposal of Hollywood Bowl.
About this update from Mitchells & Butlers Plc
[{"type":"text","content":"\n RNS Number : 7269Q Mitchells & Butlers PLC 09 August 2010 \n \n\n9 August 2010\nMitchells & Butlers plc\n \nDisposal of Hollywood Bowl\n \n \nMitchells & Butlers announces the disposal of Hollywood Bowl at a value of £39m.\n \nThe Company has sold all the operations and leasehold interests of Hollywood Bowl to AMF Bowling for a gross cash consideration of £27m. This transaction is expected to complete on 13 August 2010.\n \nThe Board will also sell the remaining freehold property interests in four of the sites for at least £12m in due course.\n \n \nCommenting on the transaction Adam Fowle, Chief Executive, said:\n \n\"This further disposal of non core assets is another important step towards focusing the business on our market leading growth brands.\"\n \n \nFor further information please contact:\n \n\n\n\n\nCorporate Affairs:\n\n\n\n\n\n\n\nErik Castenskiold \n\n\n0121 498 6513\n\n\n\n\n\n\n\n\n\n\n\n\nMedia:\n\n\n\n\n\n\n\nJames Murgatroyd (Finsbury Group) \n\n\n0207 251 3801\n\n\n\n\n \n \n \n \nNotes to editors\n \n\n\n\n\n-\n\n\nHollywood Bowl operates 24 tenpin bowling sites in the UK.\n\n\n\n\n-\n\n\nMitchells & Butlers' leading portfolio of brands and formats includes Harvester, Toby Carvery, Vintage Inns, Premium Country Dining Group, Crown Carveries, Sizzling Pub Co., Browns, Miller & Carter, Metro Professionals, All Bar One, Nicholson's and O'Neill's. Further details are available on www.mbplc.com http://www.mbplc.com. \n\n\n\n\n-\n\n\nMitchells & Butlers serves around 130 million meals and 575 million drinks each year and is one of the largest operators within the UK's £70 billion eating and drinking out market.\n\n\n\n\n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DISFVLLBBVFBBBF \n ","length":5528,"tagName":"div"}]