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Whitbread and Morgan Grenfell agree pubs deal

Whitbread Holdings has sold its pubs and bars division to Morgan Grenfell Private Equity for £1.6bn (€2.6bn).

Morgan Grenfell Private Equity, an arm of Deutsche Asset Management, will give Whitbread shareholders 230p a share. Lehman Brothers is acting as sole financial adviser and is also the lead arranger for the debt package.

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