Marston's Burton brewery at risk, says hostile rival; Business digest.
The company, which last week mounted its hostile bid for Marston after weeks of speculation, said that the future and value of the Burton-on-Trent brewery was "jeopardised by the short-term beer supply agreement that would accompany the proposed disposal ."
Marston, Thompson and Evershed plans to sell its tenanted estate through a securitisation programme.
But W&D added that the proposed disposal of the estate would be dilutive and that the board's plans to spend up to pounds 77 million on new investment on the branded and managed estate were "ill defined."
Elementis sells BOCM Pauls
Chemicals group Elementis sold its loss-making animal feed arm BOCM Pauls to management for pounds 60million yesterday as part of a restructuring programme to reduce debt and focus on speciality chemicals.
Elementis said Pauls, which has a research farm in Shropshire and a mill at Newcastle-under- Lyme, has been suffering "significant operating losses" in the months since the end of June.
Yesterday's sale to management came as Elementis warned that sales from many of its remaining chemicals divisions were running below expectations because of the Asian economic crisis.
New Andersen partner
A new senior partner in Birmingham accountants Arthur Andersen takes up his role today. Tuesday
Mr George Campion, who joined the company in 1979, moves into the post while Mr Roman McAlindon, who has led the practice since 1989 has assumed European leadership responsibilities. He will continue to be based in Birmingham.
Mr Campion became head of the tax practice in 1988 and in 1994 became head of the Midland tax practice. He is a specialist on international tax, advising a number of large public companies.
Mr McAlindon has played the lead role in building up the firm's operations in Birmingham. He also played a pivotal role in the arrival of associate law firm Garrett & Co in the city.