Globe Pub Company, the group owned by Robert Tchenguiz’s R20 investment group, has sold the Heritage Pub Company to Admiral Taverns for an undisclosed fee, rumoured to be £35m, just over a month after it bought the group. Globe will retain 104 outlets from the original Heritage estate, leaving 127 tenanted and leased pubs and taking the Admiral estate to a total of 627 pubs. The Heritage estate being acquired by Admiral is located throughout the UK and was described as representing "a significant step to confirming Admiral’s status as a leading national pub company". Admiral Taverns was advised by PC Hansen & Co. The company was formed in March 2004 to build a tenanted pub estate.