International law firm Addleshaw Goddard LLP has advised The City Pub Group PLC on a £162m recommended cash and share takeover by Young & Co.’s Brewery P.L.C., which was announced on 16 November 2023. The transaction is currently intended to be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 and, if approved by the requisite majority of City Pubs' shareholders, is scheduled to complete in Q1 2024.

Since its formation in 2011, City Pubs has assembled a high quality portfolio of pubs and bedrooms in great cities in the South of England and South Wales. AG has advised City Pubs from the very beginning, including on their initial EIS fundraisings, their IPO in 2017 and their numerous premises-related acquisitions and disposals. Young’s is a leading managed operator of premium pubs and bedrooms across London and the south of England, with a rich 192-year history.

The Addleshaw Goddard team was led by Andy Ley and Louise Pritchard, supported by associates Jack Edwards, Vinay Rawal and Jordan Kerr. Kirsty Nicholson's real estate team advised on all premises' related matters and Jonathan Fletcher Rogers advised on share incentive schemes. 

Commenting on the announcement of the transaction Andy Ley, partner in Corporate Finance at international law firm Addleshaw Goddard, said: 

"We are delighted to have advised City Pubs throughout its journey to date, from start up to the announcement of this recommended offer by Young's. We believe the transaction is a great milestone for the company and its shareholders and presents an attractive opportunity for the future growth of the combined businesses.”