LIG, based in Maidstone, Kent,
now has nearly 30 leased pubs, 60 tenancies and 81 managed houses. It plans to buy over 100 pubs this year.
MacLennan Inns, based in Great Yarmouth, will use the cash from LIG for investing in its remaining 12 managed houses and acquiring new freeholds. MacLennan has been rationalising its estate in Norfolk, Suffolk and Essex after growing to 27 outlets in 1999.