Café Rouge flotation now in doubt
The mooted £250m flotation of Tragus Holdings, the company that owns the Café Rouge and Bella Italia restaurant chains, has been cast into doubt after strong interest from private equity firms. Tragus is understood to have been approached by three or four private equity firms indicating a willingness to offer up to £300m. - The Times, 2 December

Caffè Nero will recommend takeover bid
Caffè Nero, the coffee bar operator, will next week announce a recommended bid worth about £200m — or 265p to 275p a share — from Gerry Ford, its founder and chairman. Dr Ford and his associates already speak for about 50% of the shares. – The Times, 2 December

Coffee Republic expand northwards

Coffee Republic, the coffee and deli bar operator, has signed two regional development franchises with CR Direct to open outlets in Yorkshire, Nottinghamshire and North Lincolnshire. – The Times, 2 December.

Takeover for Rank to be considered
Bookmaker William Hill is considering a takeover bid for Rank, the leisure group that is in the throes of selling its Hard Rock Café business for an estimated £500m. – The Observer, 3 December.

S&N on top after pubs sale
Scottish & Newcastle (S&N) looks like being the big winner in last week's purchase by property tycoon Robert Tchenguiz of a 180-strong portfolio of Scotland's most profitable pubs in a deal worth around £150m. Under the arrangement, S&N not only unloads 46 of its own pubs into the portfolio of Tchenguiz's R20 group but also acquires the rights to manage and supply beer. – Sunday Herald, 3 December.

Trump may choose Ireland rather than Scotland for £1b golf resort
Donald Trump, the American tycoon, has earmarked an alternative site in Ireland for his £1b golf development if his Scottish plans are delayed. The property magnate has revealed that he is prepared to switch locations if he encounters resistance to the proposed complex at Balmedie, in Aberdeenshire. – Sunday Times, (Scottish edition), 3 December.

28 Thistle hotels in £400m sale
Leisure CIT Group, the investment company, is set to acquire 28 Thistle hotels for £400m. The properties, owned by Thistle, Morgan Stanley and Andy Ruhan, a Midlands entrepreneur, were part of a portfolio of 37 hotels sold by Thistle in 2002 for £600m in a sale and manage-back deal with the Orb Estates. – The Times, 2 December.

By Bob Gledhill

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