Scottish & Newcastle is understood to be in advanced talks with Nomura International about the sale of around 700 of its pubs for between £600m and £700m.
The group, which is set to seal a deal within the next four weeks, is discussing an agreement which would see it sell the pubs to the Japanese Bank’s Real Estate Finance Group while retaining a long-term contract to continue managing them.
References: The Times Business 15/02/03 page 60
