What the Sunday papers said

The Business

Six Continents is poised to renew efforts to merge its pubs business with Scottish & Newcastle, once it has finalised plans for a demerger of its pubs and hotel operations this autumn.

The Sunday Telegraph​

Sir Ian Prosser, one of Britain's best known businessmen, will stand down as chairman of Six Continents at the end of 2003, following intense pressure from shareholders.

Ralph Findley, chief executive of Wolverhampton & Dudley Breweries, on last week's eartquake: "The tremors woke me up, but I knew straight away it was an earthquake and just rolled over and went straight back to sleep." Dudley was at the epicentre.

Troubled restaurant business Aberdeen Steak Houses is in crisis talks with its bankers and may be forced to appoint administrative receivers in the next few days if a rescue package is not agreed.

The Sunday Express​

The UK buy-out market has seen its strongest performance since early 2001. Total deal value for the quarter was £5.6bn, almost £2bn higher than the previous quarter.

The Mail on Sunday​

Venture capital groups are lining up multi-billion pound bids for the Six Continents pubs arm after the group announced its will demerge the 2,000 house from its hotels business.

Languedic, one of France's most up and coming wine regions, has been hit by the worst flooding in 50 years. As well as claiming the lives of 23 people, the estimated damage is £280m.

Cash shell Paramount is preparing a bid of up to 100p a share for the restaurant firm Chez Gerard. Paramount confirmed it made an approach last week.

The Sunday Times​

The £18m restaurant group Chez Gerard caused excitment in the stock market last week as rumours of a counter-bid from chairman Neville Abrahams emerged, following the approach by Paramount.

The Observer​

Spirit Group, the demerged managed business of Punch, is delaying its planned flotation because of stock market conditions and internal development issues.