What the Sunday papers said
Few people will be as interested in Mitchells & Butlers' half year results when they are announced this Tuesday as other news concerning the group, writes the Independent On Sunday. M&B watchers will be looking for management indications over its property portfolio and whether it proposes some joint venture sale and leaseback deal. M&B investor Robert Tchenguiz claims to speak for 40 per cent of the group's shares and wants the pubco to release up to £4bn of its property assets. After seeing off Tchenguiz last year, observers believe some form of compromise will be revealed on Tuesday. - Independent On Sunday
Mitchells & Butlers has invited five groups to submit joint venture plans for up to £4bn of its property portfolio after pressure to restructure the business from billionaire investor Robert Tchenguiz. Land Securities, London & Regional and Tchenguiz's own R20 are among the five to be invited to come up with sale and leaseback deals worth between £500m and £4bn. - Mail On Sunday
Robert Tchenguiz is almost certain to walk away with any sale and leaseback joint venture deal with Mitchells & Butlers, says the Sunday Telegraph, despite five groups being invited to submit proposals for up to £4bn of its property assets, which are valued at £5.5bn. - Sunday Telegraph
HBOS is understood to have entered the £1.3bn bid battle for Brakes, the food distribution business. It is believed to be competing with the likes of CVC, BC Partners and Blackstone. - Sunday Times
The Sunday Telegraph advises investors in Enterprise Inns to sell some of their shares in the pubco after last week's results announcement and speculation the group was seeking ways to become a real estate investment trust. "Given that the current froth around the possibility of a REIT structure could prove unjustified, we're inclined to take profits again," the paper said. - Sunday Telegraph
Thousands of beer kegs are being stolen from pubs throughout the UK as thieves cash in on soaring aluminium prices. Landlords are being warned to step up security, but for some it's already too late. Merchant Inns in Rugby suffered a theft of 69 kegs worth £4,000 recently, and now breweries may start demanding a £60 deposit on every keg. - Sunday Mirror
