Summary
Regent's appetite for Tex Mex packs a Pounds 26m Punch Plugging Thames Water leaks makes hole at RWE BRITAIN'S biggest pub landlord, Punch Taverns, has sold its Old Orleans Tex-Mex restaurants chain to Regent Inns for Pounds 26 million. The deal follows soon after its sale of 290 pubs to venture capitalist and former Yates wine lodge owner GI Partners. It is another tranche of sell-offs arising from Punch's Pounds 2.7 billion takeover of the Spirit pubs group, which left it with hundreds of pubs that did not fit into its unbranded, community pubs format. There are 31 Old Orleans sites, many of them on leisure parks. The chain was set up by Grand Metropolitan in 1984 before being sold in 1993 to Scottish Newcastle - whose managed pubs became Spirit. Punch now has only 60 sites left to sell in its disposal plan.
RSA braced for difficult pullout from US operations BRITISH insurance Royal SunAlliance warned today of a hard slog ahead for chief executive Andy Haste's plan to exit from its troubled US business. RSA has already stopped writing new premiums but Haste poured cold water on any hopes for a quick sale of his US division as he said: "Our objective remains to bring certainty and finality to our US exposure and the execution of this is complex, will take time and will not be a totally smooth ride."See the full content of this document
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In Brief
US car giant General Motors filed a High Court claim for an estimated $1 billion (Poun...
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