Pinsents acts on £28m living room sale

Pinsent Masons has acted for the majority shareholders of Living Ventures on the £28m sale of the Living Room business to Ultimate Leisure Group. Corporate partner Joanne Ellis led on the deal, which saw Living Ventures offload Living Room restaurants and bars, which operate from 13 sites across England and Scotland. The company’s Blackhouse Grill and Est Est Est restaurants were not sold as part of the deal. Ultimate, a bar and nightclub operator based in Newcastle, was represented by a team from Eversheds‘ Manchester office. The Restaurant Group, which has a minority shareholding in the business, will retain its stake. It was advised by a team from Maclay Murray & Spens.