StockMarketWire.com - Young & Co.'s Brewery, P.L.C. has today sold its 40% shareholding in Wells & Young's Brewing Company Limited to Charles Wells Ltd.

Wells & Young's was formed in 2006 following the merger of the Company's brewing operations with those of Charles Wells, with Charles Wells holding a majority 60% stake. The consideration payable for the Company's shareholding is £15.1 million in cash. £5.1 million is payable in February 2012, with the remaining £10 million being payable in two equal amounts in February 2013 and February 2014. As at 4 April 2011 the net book value of Young's investment in Wells & Young's was £15.3 million.

The disposal allows Young's to increase its focus on its portfolio of managed and tenanted pubs in London and the South of England while at the same time allowing Wells & Young's to continue to develop new and existing brands. Young's will use the consideration from the transaction to invest in the further development of the Young's and Geronimo pub estates.






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