The Sunday Telegraph
Constellation Brands, a $3bn American drinks business, has emerged as the highest bidder for Carling in the final stages of a tense auction for Britain's leading lager. Constellation is thought to have offered £1.35bn, topping offers from Heineken and other better-known brewers, and now faces stiff competition from a group of private equity firms in the final round of bidding. Advisors hope to conclude by the end of the year although Interbrew does have until February to complete the deal.
Gordon Brown will this week announce a package of tax cuts and benefits for businesses to promote enterpise in the wake of the World Trade Centre attacks and the threat of global recession.
The Mail on Sunday
Former Allied Domecq chief executive Tony Hales is suing the drinks giant for up to £2m compensation in the latest twist of a bitter dispute that has dragged on for more than two years. He was ousted from his post in August 1999 after the troubled sale of the company's 3,500-strong pub chain to Punch Taverns. Mr Hales has failed to reach an agreement with Allied on his pay-off and has now issued a High Court writ.
Venture capital group 3i wants to sell its stakes in Wessex Taverns and the Hobgoblin Group, which owns the Wychwood Brewery (see thePublican.com for more on Hobgoblin). The sales of the stakes, which is expected to raise less than £10m, is part of a wider shake-up at 3i, which last month reported half-year losses of £1bn and axed 185 jobs - 17 per cent of its workforce.
Sunday Business
Talk of potential suitors for Carling is a popular theme as Sunday Business reveals that CVC Capital Partners and Cinven, the private equity groups, have teamed up with former Bass Brewing chief executive, Iain Napier, in a £1bn joint bid for Carling. The consortium faces competition from French investor Paribas Affaires Industrielless and several trade buyers including Coors and Molson.
A landmark House of Lords ruling could lead to the convictions of four people involved in Guinness's 1986 takeover of Distillers being overturned next month. It would set the scene for a huge financial payment claim from the disgraced businessmen.
A group of Britain's leading gaming and betting companies has joined forces to speed the deregulation of the country's gaming laws by funding a trust to help problem gamblers. Officials from the Department of Culture,Media & Sport, the ministry overseeing the liberalisation of the laws, have repeatedley emphasised their desire to have such a trust in place before gaming laws are relaxed.
The Sunday Times
Guy Hands, the head of Nomura's principal-finance unit, is preparing to hand a further £700m profit windfall to his Japanese employers before he leaves the bank in the middle of next year. He is preparing to release between £90m and £140m of equity from a disposal or bond issue at Inn Partnership, the 1,200-strong pub company. A further £600m will come from a securitisation at Annington Homes, the company that owns and manages the Ministry of Defence's married-quarters estate. Nomura is expected to use nearly £200m of the proceeds to invest in Terra Firma, the £1.8bn private-equity vehicle that is being set-up by the financier.
The Government is to give small firms cash aid to ease their red-tape burden, a review commissioned by Gordon Brown, the chancellor, will recommend this week. The £200 is to ease the increasing payroll burden imposed on them since Labour took office four years ago.
The Independent on Sunday
No industry-related news
The Observer
No industry-related news
The Sunday Express
No industry-related news