Greene King to keep Old English name

The name of Old English Inns will live on after its takeover by rival pub operator Greene King.

Greene King said yesterday that it had now secured more than 92% of the company's shares following its £60m recommended offer at the beginning of September.

Jonathan Paveley, director of strategy at Greene King, said the group would continue to operate the Old English properties under their original name for the foreseeable future.

He said the Old English group would "fit neatly" into the Greene King portfolio, adding that the accommodation business that comes with Old English was a new venture for the group.

Paveley said Greene King now saw more potential in Old English than it had originally envisaged.

Greene King hopes to raise the profile of the Old English brand and start investing in many of its sites.

In the next few weeks and months Greene King will be gradually acquiring the remainder of Old English shares. The Old English name is in the process of being removed from the London stock market.