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News Release

London

JLL UK Retail comments on implications for property portfolio  in event of Ladbrokes-Gala Coral deal


Damian Sumner, Head of Retail Agency at JLL, commented: "For the merger between Ladbrokes-Gala Coral to be cleared, the Competition  and Markets Authority have specified that a condition may be the disposal  of between 350 and 400  stores. This would be a very challenging disposal for a single operator and it is likely that there would be multiple and fragmented transactions as unless another betting operator seizes the opportunity to take some of these surplus stores, market demand will be limited. One possible route for the betting companies may be to look at taking out a Leasehold Liability Transaction, which would mean that the disposals would be offloaded to a third party to undertake efficiently and at a fixed cost."