Nomura is mulling a £300m bid for a package of pubs Laurel Pub Company is selling in a sale-and-leaseback deal. It would be the Japanese bank’s first pubs acquisition, if successful, since Guy Hands left last year.

Nomura is interested in the value inherent in the properties rather than the income in the pubs themselves.

It faces competition from London & Regional Properties (L&R) and Rotch. Exclusive talks with one of the companies is expected in the next few days. L&R is tipped as favourite.

The Sunday Times (Business) 13/10/02 page 3