LEGAL | Staff Reporter, UK

Whitbread now open to selling Costa Coffee

The hospitality company originally planned to spin-off the coffee business.

Britain’s Whitbread has now announced that it is open to selling its Costa coffee chain, according to a new executive remuneration policy circulated to shareholders.

Reuters reports that the FTSE 100 company initially said in April that it planned to demerge Costa into a separately listed company within two years to “provide shareholders with an investment in two distinct, focused and market-leading businesses.”

Aside from their new plans with Costa, the new remuneration policy also said the firm is willing to consider a sale of hotel chain Premier Inn to another company instead.

Whitbread is currently overhauling its executive pay scheme to account for the compnay's new objective of separating its two main divisions.

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