Legal & General Ventures (L&G), the private equity section of the insurance group, has reportedly put in a bid to buy beleaguered golf course operator, Clubhaus.

According to The Daily Telegraph, L&G is backing the buyout from Clubhaus’ managing director, Charlie Parker and has bid around £56m for the company, which would repay the operator’s £40m bank debt but could leave shareholders out of pocket.

The bid is also below a recent asset valuation of Clubhaus, which totalled £71m.

The sale is being handled by Close Brothers and looks likely to rest upon whether shareholders should gain anything from the deal.

As yet, L&G hasn’t been granted exclusivity in the sale discussions and a completion date for the talks could be up to a month away.

Legal & General Ventures declined to comment this morning. Details: www.legalandgeneralventures.com