LONDON (Reuters) - Emerald Investment Partners, the investment firm of Punch Taverns (>> Punch Taverns plc) founder Alan McIntosh, confirmed on Wednesday that it had proposed to buy Punch for 185 pence per share.

Emerald, which is bidding against global brewer Heineken (>> Heineken), said its proposal did not constitute a firm intention to make an offer. It said it owns 2.2 percent of Punch's shares.

(Reporting by Martinne Geller in London; Editing by Adrian Croft)

Stocks treated in this article : Heineken, Punch Taverns plc