Dec 15 (Reuters) - Patron Capital‘’s Vine acquisition ltd
* Offer for Punch Taverns Plc
* Announces recommended final cash offer for Punch Taverns Plc and associated disposal of Punch A group
* Offer has received support of Punch’s top three shareholders and Punch directors, representing in c.52.3 percent share capital
* Under offer, each Punch shareholder shall be entitled to receive for each Punch share held 180 pence in cash
* Offer values entire issued and to be issued ordinary share capital of Punch at approximately 402.7 million stg.
* Offer will be effected by way of a court-sanctioned scheme of arrangement of Punch under part 26 of 2006 act.
* Offer implies an enterprise value of 1,775.6 million stg
* Bidco will fund part of aggregate offer consideration using disposal proceeds
* Punch directors consider terms of offer to be fair and reasonable Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)