Heineken has been given the green light for its takeover of part of Punch Taverns after offering to sell 30 pubs by the end of the month to appease the concerns of competition authorities.
The Competition and Markets Authority said it had accepted the proposals meaning it would not launch an in-depth investigation into the deal, which often takes up to six months.
Heineken made its offer after the CMA said in June that the takeover of part of the Punch estate could reduce competition in 33 areas across the UK.
The CMA said it used a process similar to that of its pre-merger scrutiny of the combination between Greene King and rival Spirit. The process identified local areas of concern by analysing where the pair would have a high share of pubs (more than 35pc), where pubs were close to one another, and where other local pubs might struggle to compete.
Most of the pubs on the slate are in the north of England or Scotland with half being from Heineken’s own Star Pubs & Bars estate and the other half belonging to Punch. The sales are expected to be completed by August 29.
Source : www.telegraph.co.uk