Daniel Thwaites, the Lancashire-based brewer and pub operator, continues to face pressure from its largest institutional shareholder over the sale of the Stafford Hotel in Central London.
Guinness Peat Group (GPG), the activist shareholder, has written to other investors ahead of an annual meeting on Thursday calling on them to join its campaign to block the disposal of the hotel for a “fire sale price” of £75m, according to The Times.
The move comes after GPG, which holds more than a 6% stake in Thwaites, sent a letter to the board at the beginning of July saying that the sale would lead to a material diminution in shareholder value.
