The UK’s largest brewer Scottish & Newcastle is to begin the sale of its 1,450 pubs some time next week, it was reported today.
The company will begin by issuing an information memorandum for the sale of the division, which also includes the Premier Lodge hotel chain.
The news agency Dow Jones quoted people familiar with the sale who said that around 20 prospective bidders are expected to show interest in the pub estate, which should fetch at least £2 billion. Among those thought to be interested are private-equity firms BC Partners, CVC Capital Partners, Blackstone Group and Laurel Pub Company. Rival pub operator Mitchells & Butlers has also expressed interest.
It is thought S&N will try and send out the information memo before it holds its full-year results on Tuesday.
