Deutsche Bank is reportedly considering the sale of the Laurel Pub Company, which earlier this month was unsuccessful in its bid to acquire Scottish & NewcastleÃ¢â¬â¢s ÃÂ£2.5bn pub estate. Laurel was beaten to the S&N portfolio by the Spirit Consortium, which includes CVC Capital Partners and Blackstone.
The bank formed Laurel following the purchase of 3,000 tenanted and managed pubs from Whitbread in March 2001. The tenanted arm of the business was sold to Enterprise Inns last year.
Reports persist that Deutsche Bank is now considering a sale rather than waiting for it to float. It is thought that in order to float on the stock market, Laurel would need to increase its 600-strong mass for a successful public debut.
A source at Laurel declined to comment on the speculation, but said: Ã¢â¬ÅAny company backed by private equity is always up for sale if someone comes along with the right sum of money.Ã¢â¬Â