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09 Mar 2010
Minmar acquires former Agora properties
Business advisory firm Baker Tilly has announced it has completed the sale of more than 100 gaming centres owned by Agora Gaming Group to investment vehicle Minmar (929).
Edward Symmons LLP acted on behalf of Baker Tilly to secure the deal, which includes 106 leasehold properties formerly operated by the four subsidiary companies under the Agora banner.
Gaming centres in Lewisham, London, and Aldershot, Hampshire, are among those to be sold after Agora and its subsidiaries - Ablethird; Frankice Golders Green; Leisure World UK and Caesar's World - were placed into administration on 7 December.
Administrator and Baker Tilly partner David Hudson said: "A sale has been agreed for the entire portfolio, which will safeguard 480 jobs and enable the entire estate to continue to trade under new ownership."
Colin White, partner at Edward Symmons LLP, added: "This is a clear sign of the strong market interest for such substantial leisure investment opportunities; 180 parties registered interest in the portfolio and some 35 offers were made for the purchase."
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