Laurel Pub Company has bought 98 city centre pubs and bars from the SFI Group for £80m.

The acquisition makes Laurel one of the biggest operators on the high street, with more than 400 managed pubs.

Laurel’s high street pubs were taken over by Iranian property tycoon Robert Tchenguiz last December, after the early sale of its neighbourhood division to Greene King.

It has recently added bar operator Yates to its collection, paying £202m for 126 Yates bars and 23 Ha!Ha! Bar and Canteens.

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