UK REIT NewRiver confirmed on Tuesday that it has entered exclusive discussions with pub operator Hawthorn Leisure Holdings to take over the business from its owners.
Hawthorn, backed by Avenue Capital, currently operates over 300 pubs across the UK. Led by co-founder Gerry Carroll, the firm was was put up for sale by its owners earlier this year.
According to UK press reports, Avenue Capital is looking to sell the pub group for between £115 (€130 mln) and £130 mln.
NewRiver said that if the deal went ahead, it would fund it with existing resources.