What the Sunday papers said
The Sunday Telegraph
The Telegraph picks up on the Grey Archer story that broke last week. The liquidation of the on-line business represents Guy Hands' first outright business failure. Mr Hands, one of the City's most celebrated dealmakers, has so far raised £500m for his new fund, Terra Firma. Read more on Grey Archer going into liquidation on thePublican.com...
The Financial Services Authority has set a deadline of August 27 for four media groups to surrender Interbrew documents detailing a potential bid for South African Breweries.
Keith Harris and David Burns, chairman and chief executive of the Football League, may quit tomorrow at an emergency board meeting after yesterday issuing a "back us or sack us" ultimatum to the 72 clubs. The meeting will follow the collapse of the £178m compensation claim against ITV Digital.
The Sunday Times
Whitbread, the leisure firm, is in talks to buy the Travelodge hotel chain and Little Chef restaurants that are being sold by Compass, the caterer, for about £750m. A number of private equity houses, including Nikko Principal Investments, which owns Roadchef, a rival firm, are also looking at the two businesses.
Something of value has finally come out of ITV Digital, says the paper's business diary. Chris Gorman, the 35-yer-old chairman of the Gadget Shop, is buying 20,000 ITV Digital monkeys for £250,000 from Deloitte & Touche, the company's administrators.
The Observer
Interbrew might have attempted to buy SAB If it had not been for the leaked story detailing a possible bid. Following the story, SAB "hurriedley" bought US brewer Miller, says the Observer. A veteran of campaigns to acquire Becks, Bass Breweries and Whitbread, chief executive Hugo Powell knows that deals in the gossipy brewing industry leak faster than a Hoegaarden tap. Analysts believe Interbrew is determined to hunt out whoever is doing the leaking.
Britain's countryside and coastal resorts are having one of their best summers for years. The surprise surge in business is mitigating the financial misery caused to many hotels, restaurants and tourist attractions by last year's foot-and-mouth crisis. Only destinations such as London that are dependent on transatlantic trade are still suffering.
Camra is hoping that Ninkasi, the Lara Croft of the ale world, will encourage women and younger drinkers to embrace real ale. The image of the beautiful brunette will be launched at this week's Great British Beer Festival, at Olympia, west London. A women-only panel selected 10 female-friendly beers for Ninkasi to promote at the festival this week.
The Weekend FT
The humble Cornish pasty could soon gain the kudos of Champagne, Gorgonzola and Newcastle Brown Ale as one of the select band of gastronomic products to boast a regional trademark. The cornish Pasty Association will this month apply for a regional trademark, which if granted would mean only producers from Cornwall would have a right to call their pasties by that name.
Residents of Cardiff's luxurious waterside developemnt are planning legal action against the harbour authorities for failing to stop a plague of midges that has made their lives a misery.
The Business
Pubmaster is planning a £500m acquisition spree this autumn, aiming to buy 1,000 pubs by the end of the year, as reported by the Publican. Pubmaster is thought to be looking at some of the 1,400 pubs put up for sale earlier this year by Scottish & Newcastle.
Pub company Brakspear could be the target of a takeover now it has decided to stop brewing beer and concentrate on managing its 100-strong estate, the Campaign For Real Ale has warned, as reported by The Publican.
Singapore-listed investment firm BIL International has approved a sale of Thistle Hotels, in which it owns a 46% stake. Thistle has 46 properties and is likely to fetch up to £750m. Chief executive Ian Burke is thought to be lining up a £720m management buyout. Also thought to be interested is Millennium & Copthorne.
