Firm News

Mishcon de Reya advises London Town plc on the £4.31 million acquisition of GRS Inns Limited

Mishcon de Reya has advised existing AIM listed client London Town plc on the £4.31 million acquisition of GRS Inns Limited (“GRS”), the managed pub operator and service provider to the leasehold pub industry. The acquisition was satisfied by a mixture of cash and shares and the Chairman and Managing Director of GRS joined the main board of London Town. As a result of the acquisition, GRS shareholders acquired approximately 13.5% of London Town. The acquisition adds 60 unbranded leasehold pubs operated by GRS to the existing 222-strong tenanted London Town portfolio and adds core pub management skills to the enlarged group. At the same time Cenkos was appointed as Nominated Adviser to the company.

London Town was advised by Corporate partner Ross Bryson, Real Estate partner Daniel Lipman and Tax partner David Blumenthal, and also by Corporate assistants Elliott Wiseman and Michelle Kennedy and Real Estate assistant Simon Noonoo.