UK pub group Enterprise Inns has been given the go-ahead from HM Revenue & Customs to convert to a tax-efficient real estate investment trust (REIT), newspaper the Financial Times reported. Shares in the pub group rose by 29% to 510p after the announcement. Enterprise Inn, with 7,700 assets, would be the first pub group to convert to the REIT regime. The company said the possible conversion would take several months.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
