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Cerberus buys Admiral Taverns from Lloyds for £200m

Cerberus Capital Management has bought Admiral Taverns, once the UK’s third-largest largest pub company, from Lloyds Banking Group for around £200m in cash, severing the bank from one of its largest individual losses in the legacy HBOS commercial property loan book.
By James Wallace
January 4, 2013 | 12:41 P.M.

Underbidders for the UK pub company are understood to include private equity firm Alchemy Partners.

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