What the Sunday papers said - 16 December

The Sunday TelegraphPubmaster, the pubs group backed by WestLB, is to pay £500m for Inn Partnership, the tenanted pubs group owned by Nomura, in a...

The Sunday Telegraph

Pubmaster, the pubs group backed by WestLB, is to pay £500m for Inn Partnership, the tenanted pubs group owned by Nomura, in a deal which marks the end of an era at the Japanese bank. A rival bid from Laurel, the pub company backed by Morgan Grenfell Private Equity, was withdrawn on Friday afternoon. But Bear Stearns, the US investment bank may try to break the deal. Read more on thePublican.com...

Grolsch, the family-controlled Dutch brewing group, has emerged as a leading bidder in the final stages of the auction for Carling, Britain's leading lager brewer. It has teamed up with CVC and Cinven, the private equity firms, to make a final bid when the auction closes tomorrow (December 18). It will be up against familiar foe Heineken, Constellation Brands of the US and Miller, the American brewer.

Diageo, the world's biggest drinks business, is set to offload a string of drinks brands worth £480m including Sandemans port and Four Roses bourbon. This will follow US approval of its £5.7bn acquisition of Seagram, which is expected this week.

CHE Group, the hotels business formerly known as Friendly Hotels which operates about 250 sites under the Comfort, Sleep Quality and Clarion Inn brands, is set to be acquired by a joint bid from Radisson SAS and London Plaza Hotels in a £100m deal.

The Telegraph's share-tip column says JD Wetherspoon is a buy...."it offers reliable quality and will attract more custom should next year prove harder for household incomes than 2001. Tim Martin, the chief executive, continues to prove his ability to manage an aggressive expansion plans while his reluctance to to bid high prices for such brands as Pitcher & Piano should be applauded."

The Sunday Times

The Sunday Times seems confident Pubmaster will emerge as the winner in the race for Inn Partnership, the Nomura-owned pub business. Both it and the Telegraph say it will be the new proud owner of the 1,200-strong group. John Sands has been on the lookout for further deals since the failed hostile bid for Wolverhampton & Dudley Breweries last summer.

Hilton, the hotel group, has signed an exclusive two-year marketing alliance with Saga, the holiday company. Under the deal, Saga members will be able to take breaks at Hilton hotels at the lowest available rate. Analysts suggest the deal could boost the hotel group's sales by £17m.

Britain's inflation rate is set to fall below zero next year. It will be the first time the country has seen a negative rate in nearly half a century. If so it would mark a sharp shift in Britain's economic performance and could lock in low interest rates.

The Mail On Sunday

That Pubmaster will win the £500m auction for Inn Partnership must be the worst kept secret in the City as the news was aired once more in the Financial Mail. Chief executive John Sands is in pole position to do the deal now that Laurel has withdrawn. Inn Partnership was bought by Nomura from Greenalls for £375m three years ago.

Brewing and pubs group Belhaven's record interim results last week showed it had overcome the impact of foot-and-mouth and a wet summer. The Scottish company, which has 137 pubs and brews Belhaven Best, lifted profits 18.2 per cent to £5m and boosted its dividend from 2.9p to 3.2p.

Sunday Business

London nightclub Fabric is up for sale, with management expected to bid for the club in a deal that could run into several millions of pounds. Thomas Combrinck, the millionaire backer of Fabric, is seeking to cash in his chips.

In the "My Best & Worst Decisions" column, Tim Martin, founder of JD Wetherspoon, says the best decision he ever made was to create staff loyalty through share option schemes. Managers who have been with the company for ten years have seen the share price increase 20 times and now have a nice nest egg. He said his worst business move was his attituide when he was fairly young and new to the trade: "I thought I knew everything. I was over-confident. I made life hard for myself, and others, harder that it need have been. I was doing everything wrong because I did not listen enough," he said.