Scottish & Newcastle is discussing selling 1,000 of its 1,500 pubs to the Royal Bank of Scotland. The negotiations are considered to be at an advanced stage. S&N is trying to release capital from its freehold estate and has been looking at several options, a further Royal Bank of Scotland deal being one.

Last year the Royal Bank of Scotland bought 456 S&N’s pubs for GBP 260 million. If the Royal Bank buys 1,000 pubs this year, the total number of pubs acquired from S&N will constitute 2,076.

10 September, 2002