Revolution Bars Group plc has just issued a statement following today's press speculation regarding a potential transaction with The Deltic Group Ltd, and the movement in Revolution's share price.
The statement said that Revolution's Board has confirmed that it is in the very preliminary stages of considering a transaction involving a possible acquisition of Deltic.
It continued, 'The Board has also clarified that it is only in very preliminary dialogue with Deltic regarding such a potential transaction.
'Furthermore, no agreement (in principle or otherwise) has been reached with Deltic regarding such a transaction, so there can be no certainty as to the terms, timing or structure of any such transaction, nor as to whether any such transaction will occur at all.'
Founded in 1988, The Deltic Group has an estate of 65 night bars and clubs, with 2,500 employees, and has the largest square footage of nightclub capacity in the UK. Its brands include Bar&Beyond, ATIK, PRYZM, Fiction, Cameo, Kuda and Vinyl.