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Article: Enterprise Inns soars on Reit conversion.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- May 8, 2008
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Byline: Nathalie Olof-Ors
After nine months of negotiations with tax authorities, Enterprise Inns finally got the go-ahead for a real-estate investment trust (Reit) conversion.
After lengthy negotiations with the tax authorities, Enterprise Inns announced on 7 May 2008 that it had finally received the go-ahead to convert to a Reit, triggering a 20 per cent rise in its share price. Rival Punch Taverns took the opportunity to remind the market that it, too, continues to consider a similar move "on its own merits". It's shares closed up 11 per cent, while Greene King's and Marston's gained 10.7 per cent and 16.4 per cent respectively.
Enterprise ...