Companies: IVL    LMR    PUB    URM   

National news has been abuzz with reports related to the Licensing Act’s 24-hour drinking laws, which come into effect in November, and there’s been plenty of fizz in the pubs and bars sector too.

It looks like Tiger Tiger chain operator Urbium is being taken private by equity house Electra Partners – a cash offer at 1075p, valuing Urbium at £113 million, has been recommended. Inventive Leisure, owner of the Revolution vodka bar chain where full year like-for-likes were up 1.5 per cent, has received an offer from a private equity house, although discussions are at the embryonic stage. Elsewhere nightclubs outfit Luminar, which tried but failed to sell its Chicago Rock Cafe and Jumpin' Jaks venues earlier this year, has revealed neutral like-for-like sales growth for the year to date.

And in a ruling that could have widespread effects, judges at Leeds Magistrates Court threw out an appeal by fully listed pubs group Punch Taverns against Leeds City Council, where Punch had claimed the conditions placed on four of its pubs were unlawful under the principles of the Licensing Act and were a duplication of existing legislation. Martin Rawlings of the British Beer & Pub Association said the ruling appeared to have contradicted the Government guidelines. More industry concern is focused on making English pubs smoke-free. A survey from Cancer Research UK indicates that the number of pubs exempt from a smoking ban because they serve food could rise to 40 per cent from the 29 per cent that would currently qualify.