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The City: Punch goes heavyweight
The seven-month auction of Spirit Group is over. Punch Taverns has become Britain’s largest pub owner by taking over its rival for £2.7bn. But that is not the end of the affair – far from it. Punch wants to offload up to 1,000 of the pubs that it has just bought because they do not fit its investment criteria. The company is undertaking a review of its newly enlarged 10,000-pub estate. ...
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