28th Jun 2016 13:51
LONDON (Alliance News) - Revolution Bars Group PLC on Tuesday said it has terminated discussions regarding a proposed acquisition of four bars in Edinburgh, following the European Union referendum result last week.
On Friday, soon after it was revealed that the UK has decided to leave the EU, Revolution announced it was in discussions regarding a potential acquisition of four bars in Edinburgh for GBP16 million.
On Tuesday, the bar operator said those discussions have now been terminated.
"The group today confirms that, in light of the market uncertainty following the result of the EU referendum, those discussions have been terminated and the group will not be proceeding with the proposed acquisition at this time," Revolution said in a statement.
Shares in Revolution were trading down 3.1% at 170.30 pence on Tuesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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