Wednesday May 7, 06:07 PM
Enterprise Inns cheers REIT eligibility
LONDON (ShareCast) - Shares in Enterprise Inns (LSE: ETI.L - news) soared by nearly a third after the pub owner confirmed it is eligible
to convert to a low tax real estate investment trust (REIT) if an internal restructuring of the group is undertaken.The group said it is going to take 'several months' with its tax, legal and financial advisers to decide whether the board will recommend the move. "A further announcement will be made in due course," the group said in a short statement. Fellow pub group Punch Taverns (LSE: PUB.L - news) said it welcomes the news and continues to consider the opportunity of a potential conversion to REIT status on its merits.
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