City round up - all the latest news
SFI Group chief executive Andrew Latham has purchased £19,700 of shares. The incoming head of the company bought 10,000 shares at 197p. He said: "There is a big upside to the shares. It's a great company with great brands."
Glenmorangie is investing £500,000 in its distillery in Tain, Scotland, in response to increased global demand for its malt whisky. Production will rise from 3million to 4million litres.
Manchester United is to open a new chain of concept cafés and restaurants in Asia under the brand "Reds". It plans to open 90 restaurants over 10 years, initially in Singapore and Beijing before further expansion in 2003. United spokesman Paddy Harverson told thePublican.com there were no immediate plans to open "Reds" in the UK. "I don't think they would go down terribly well in Liverpool, Leeds or north London," he said.
Giles Thorley may have options to the value of £15m if Punch should float, but that was dwarfed this week when directors of NTL, the failed cable-television group, negotiated a $1bn (£680m) package of incentives, following the company's rescue.
South African Breweries announced last week that Brandes Investment Partners, the San Diego-based asset management group, had taken a 9.12 per cent stake in London listed beer maker. The stake amounts 76.7m shares.
Nightclub operator Po Na Na (20) and The Old Monk Pub Company (42) were both listed in the Deloitte & Touche/Independent on Sunday list of Britain's 100 fastest growing companies. The index also includes pizza group Ask Central (34) and noodle chain Wagamama (69). Two coffee bar brands, Coffee Republic and Madisons, plus a sandwich bar chain, Eat, made the top 10.
