Heineken-Punch Taverns pub deal cleared by CMA
iStock/Thinkstock(NEW YORK) — Heineken has been given the green light by the Competition and Markets Authority(CMA) to takeover part of Punch Taverns.
Heineken will buy 1,895 Punch pubs and the Private equity firm Patron Capital will buy the remaining 1,329 pubs in the Punch estate.
The CMA released a statement saying that, “Heineken has offered to sell pubs in each of the affected areas to preserve competition and ensure customers in these locations do not lose out.”
“Before reaching a final decision, the CMA carefully assessed and consulted publicly on these proposed undertakings. The CMA is satisfied that its concerns have been addressed and has therefore decided that the merger will not be referred for an in-depth phase 2 investigation,” it added.
Heineken already owns 1,100 pubs.
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