Vulture’s pubs swoop

SA Brain, one of Wales’s most prominent brewers, is to sell scores of its pubs to a consortium that includes a global private equity powerhouse, according to Sky News.

Brains is close to agreeing a deal to offload 100 Welsh pubs to Song Capital and Cerberus Capital Management, the former owner of Admiral Taverns. The deal, thought to be in the region of £100m, will generate substantial proceeds for Brains’ family shareholders, with the funds expected to be used to pay down debt.

Brains is one of Wales’s best-known firms, and sponsored the country’s rugby team for years.