Companies planning to list on the London Stock Exchange were handed a reality check yesterday as investors turned their backs on three of the newest entrants to the market.

Predators eye Greenalls pubs

GREENALLS HAS embarked on a radical strategic review since its profits warning last week, with a sale of its underperforming pubs chain and wholesale operations top of the list of options.

Solo bid to beat Punch

GUY HANDS, Nomura's principal finance guru, is set to ask his Japanese bosses for pounds 3bn to whip Allied Domecq's pubs form under the nose of Punch Taverns, writes Dan Gledhill.

Hilton may shed bookies

HILTON, the leisure group previously known as Ladbroke, is coming under increasing pressure to get out of bookmaking.

Young guns are the inn crowd

Britain's pubs are passing from the hands of the old order, writes Dan Gledhill

Nomura placates investors as William Hill float is scrapped

NOMURA INTERNATIONAL has moved to placate more than 90,000 private investors who subscribed for shares in the float of the William Hill betting shops chain, which was abandoned on Saturday. The Japanese bank decided to sell the group to venture capital companies CVC Capital Partners and Cinven for pounds 825m instead.

William Hill saddles up for float

NOMURA, the Japanese bank, is gearing up for a January flotation of William Hill, the UK's second largest bookmaker, in a deal worth up to a pounds 1bn, writes Francesco Guerrera.

Greenalls sells off pubs to Nomura

GREENALLS WILL this week sell off 1,400 pubs to Nomura, the Japanese bank and Britain's biggest pub landlord, writes Diane Coyle.

People and Business: Heated words as not-so-steady Eddie takes off

EDDIE GEORGE, the Governor of the Bank of England, is in danger of losing his nickname "Steady Eddie". Just ask Paul Linford.

Apax's pounds 700m motorway bid

UK-BASED venture capital group Apax Partners is poised to win the bidding for Germany's state-owned Tank und Rast chain of motorway service stations with a pounds 700m offer after Nomura - which had been favourite - unexpectedly dropped its bid last week.

Nomura buyouts on hold, says Hands

GUY HANDS, the corporate financier who turned Nomura into one of the biggest players in the UK buyout market, says he is not expecting to do any new deals for 12 to 24 months, writes Andrew Garfield.

Nomura looks at pub flotation

NOMURA INTERNATIONAL is looking to refinance its 4,000 Inntrepreneur pubs as a prelude to a stock market flotation of the business. The most likely route is through a securitisation of the pubs' debts, a move it previously said might not be appropriate.

Outlook: Devaney lights up National Power

IF YOU are contemplating a pounds 7bn break-up bid for National Power, then where better to contemplate it than in the middle of the Mediterranean? John Devaney can currently be found, en famille, just off the north-west coast of Corsica, birthplace of Napoleon. He has dropped anchor close to Calvi but still has plenty of time to check the satellite fax in between taking the dinghy into town for the bread run.

London Electricity up for sale with pounds 1.9bn price tag

A FRESH wave of consolidation was in prospect in the energy sector after London Electricity was put up for sale yesterday by its US owners, Entergy.
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