Property giant NewRiver eyes float of 700-strong pub group Hawthorn
Real estate giant NewRiver is planning to float its Hawthorn business of 700 pubs (Johnny Green/PA)
Property giant NewRiver has said it has plans to float its Hawthorn business of 700 UK pubs and focus further on its retail business.
The real estate investment trust (REIT) saw shares lift higher on Wednesday morning after it said it intends to offload the community pub arm as a standalone business.
NewRiver told investors that it has reviewed its property portfolio and decided it will focus on its “resilient” retail assets as part of a plan to reshape its estate by 2025.