Mitchells & Butlers (M&B) is set to sell its Innkeeper’s Lodge business to Prupim, part of Prudential, in a deal rumoured to be worth about £90m. As previously reported, the hotels will then be lease to Travelodge, the Dubai backed budget hotel chain which has been subject to Whitbread takeover speculation in recent weeks. However, it is believed that M&B will retain ownership of the majority of the adjoining pubs and restaurants. It is also expected to keep the 35 or so hotels that do not form part of the Prupim deal. The new board of has indicated it intends to undergo an asset reduction programme as part of its plans to develop its food offering. The Times, p53