Feb 13 (Reuters) - Whitbread Plc will buy back an additional 2 billion pounds ($2.58 billion) of shares using proceeds from its sale of the Costa Coffee chain to Coca Cola Co , the owner of Premier Inns said on Wednesday.
In a presentation outlining its long-term plans to investors, Whitbread also predicted that its German operations would be profitable in fiscal year 2022.
The group, which completed the $5 billion sale of Costa Coffee last month, has shifted focus completely to its hotels business. It also forecast a further 220 million pounds in savings over the next three years.
Reporting by Sangameswaran S in Bengaluru; Editing by Sai Sachin Ravikumar