Punch Taverns, the leased and managed pub group, is reportedly considering seling its 50% stake in drinks wholesaler Matthew Clark, a move that could raise almost £60m. The option of a sale is under consideration as part of an ongoing review by Ian Dyson, Punch’s recently installed chief executive. According to The Sunday Times, Punch has received an approach for its stake in Matthew Clark from rival drinks wholesaler Waverley TBS. Dyson may be tempted to pursue a deal after Matthew Clark’s other 50% shareholder Constellation Brands – the US drinks group – agreed a sale just before Christmas. The former Marks & Spencer finance director is reviewing the current financial position of Punch and is thought to be seeking a significant restructuring of long-term debt structures. Dyson has let it be known that if bondholders refuse to negotiate he will consider jettisoning more than 5,000 pubs , thus riding the company of two securitised debt structures. The group, which is being advised by Blackstone and Goldman Sachs, has debts of just over £3bn. Punch’s bondholders recently hired Rothschild, the investment bank, to advise on any restructuring.