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April 29, 2003

UK: Osmond linked to S&N acquisition

The race to acquire the S&N pub estate, which was effectively put on the market yesterday, has begun, with the name of Hugh Osmond, the UK leisure industry entrepreneur, already tipped as a favourite to clinch a possible £2.5 billion deal.

The race to acquire the S&N pub estate, which was effectively put on the market yesterday, has begun, with the name of Hugh Osmond, the UK leisure industry entrepreneur, already tipped as a favourite to clinch a possible £2.5 billion deal.


Osmond was unsuccessful in his efforts to buy hotel and pub operator Six Continents earlier in the year.


Other names already mentioned in conjunction with a bid include Pubmaster, backed by the Rotch property group and investment bank WestLB, and Laurel Pub Company. Pub company Mitchells & Butlers is also believed to be interested.


Meanwhile, the Financial Times reported that Japanese bank Nomura International is likely to bid for the S&N business. Financial buyer Terra Firma is also looking at the sale, the report said.

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