Pubmaster said it would sell the brewing assets of Wolverhampton & Dudley Breweries (W&DB) and 290 pubs if its subsidiary Pubmistress succeeds in its £453m (€738m) hostile bid.

Pubmaster said it had already received serious approaches for the four breweries and that the entrepreneur Robert Breare would buy the 290 pubs. The company also promised to consider selling other W&DB assets. The remainder of the pubs would be integrated into Pubmaster's own estate, it said.