23rd Apr 2018 12:24
LONDON (Alliance News) - Whitbread PLC Chief Executive Alison Brittain is expected to set out her stance on a potential break-up of the company at the firm's full-year results on Wednesday, the Sunday Times reported over the weekend.
Brittain is not "philosophically opposed" to Whitbread spinning off the Costa Coffee chain from its Premier Inn hotels business, the Sunday Times said, citing "City sources".
The CEO is expected to set out her position on the issue at the company's results on Wednesday, and is understood to believe a split is a case of "when, not if".
https://www.thetimes.co.uk/article/whitbread-boss-alison-brittain-appeases-raiders-with-costa-sale-plan-7vxrsp5gf
This comes after Whitbread last week confirmed US activist hedge fund Elliott Capital Advisors LP holds a 5.3% interest in the company.
The Sunday Times, prior to Whitbread's confirmation of the hedge fund's stake, reported Elliott had presented Whitbread with a plan to split the firm through a demerger of its Premier Inn and Costa Coffee divisions.
Shares in Whitbread were up 1.0% at 4,279.00 pence on Monday.
Related Shares:
Whitbread