Industry sources suggest that an R20-led consortium would offer between offer between 500p and 520p, valuing the company at more than euro 3.33 billion ($4 billion.) Existing debt would take the price close to euro 5.8 billion ($6.9 billion.)
Robert and Vincent Tchenguiz came to Britain after the fall of the Shah of Iran in 1979. Since then they have built the euro 2.89 billion ($3.47 billion) Rotch property empire. Two years ago Rotch's co-founders Vincent and Robert Tchenguiz set up their own companies, Consensus and R20.
R20, Robert Tchenguiz's vehicle, has invested in Whyte and Mackay whisky, Welcome Break motorway services and a string of pub chains including the Hog's Head, Yates and Slug & Lettuce chains. The brothers have also been selling central London offices at a premium, and have put up for sale a package of Shell petrol stations jointly owned with London & Regional for more than euro 615 million ($747 million.)
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