Proprium Capital Partners, L.P. agreed to acquire unknown minority stake in Admiral Taverns Limited from C&C Group plc (LSE:CCR) for £55 million on May 17, 2022. The sale of the shares will be completed and consideration will be paid in three tranches during FY2023. .

The sale of the shares will be completed and the consideration will be paid in three equal tranches, the first tranche when approval has been received from the Financial Conduct Authority, the second and third tranches on the later of receipt of approval from the Financial Conduct Authority and 31 August 2022 and 28 February 2023 respectively. In FY2022. Admiral Taverns had profit before tax of €4.9m.

As at 28 February 2022, the gross assets of Admiral Taverns were €743.3m. Nomura Greentech Capital Advisors, LLC acted as financial advisor to Proprium Capital Partners, L.P. The first two tranches equating to €42.8m cash proceeds (£36.7m) were completed in the current financial period.