Here we go again
Could it be that ...? Is this the sign the markets have been waiting for? FINALLY, indeed Capital letter-finally, Six Continents, the former Bass group minus the breweries, has announced that it would demerge its hotel and retail divisions. This opens up the door to a merger of its pub estate with, for example, Scottish & Newcastle’s retail division, once
S&N’s own demerger plans are finalised. Of course both companies have refused to comment on the speculations, but bankers continue to believe that such a merger is too strategically and financially compelling to be allowed to be bypassed. One of the proponents of a merger between Six Continent’s and S&N’s retail division is Stuart Price, analyst at WestLBPanmure, London. On our estimates, S&N needs a cash injection and quickly..
Select offer and read on
6 print issues