Scottish & Newcastle is believed to be close to agreeing a deal with Nomura to sell 600 pubs for £750m, a 15% discount to their market value.
Nomrua has promised in return to give the brewer a 30-year management, distribution and beer-supply contract.
Some analysts believe the deal could put the Japanese bank in pole position to buy another 900 managed pubs if the working relationship gets off to a good start.
S&N is meanwhile thought to be close to appointing a new chief executive, probably from outside the company. John Brock, chief executive of Interbrew, is seen as a possible contender.
The Sunday Times 06/04/03 page 2 (Business)
Nomrua has promised in return to give the brewer a 30-year management, distribution and beer-supply contract.
Some analysts believe the deal could put the Japanese bank in pole position to buy another 900 managed pubs if the working relationship gets off to a good start.
S&N is meanwhile thought to be close to appointing a new chief executive, probably from outside the company. John Brock, chief executive of Interbrew, is seen as a possible contender.
The Sunday Times 06/04/03 page 2 (Business)
