SandpiperCI has announced that, as a result of uncertainties surrounding Covid-19, it has been unable to complete its acquisition of the Guernsey Pub Company.
The acquisition, announced in January, would have seen Sandpiper taking the entire share capital of The Guernsey Pub Company, the holding company of Guernsey brewery Randalls. However, the sale and purchase agreement will now be terminated on 1 April.
Sandpiper said it had been unable to fulfil the conditions of the placing agreement required to achieve admission of the placing shares to the Official List of TISE. This was the remaining condition of the sale and purchase agreement to complete the acquisition.