The new RedCat Pub Company from former chief executive of Greene King, Rooney Anand, is reportedly to set to make its first aquisition of 42 Stonegate outlets, according to Sky News.
A source told Sky News that the deal with the Yates's and Slug & Lettuce operator - estimated to be worth around £20m - could be completed as soon as this week, and is awaiting the approval of the Competition and Markets Authority (CMA).
Stonegate agreed with the CMA that it would sell 42 sites as a condition of its takeover of Ei Group, formerly Enterprise Inns.
Earlier this year Anand raised £200m, with financing lined up from the American investment group, Oaktree Capital.
As well as his stint as CEO at Greene King, Anand was Managing Director at Sara Lee, and Principal at United Biscuits (UK).
Anand is presently Non-Executive Chairman at Casual Dining Group Ltd., Non-Executive Chairman for Casual Dining Bidco (a subsidiary of Casual Dining Group), and Chairman of Purity Soft Drinks.