UK Regulator Approves Carlsberg and Marston's Joint Venture
October 09 2020 - 3:46AM
Dow Jones News
By Sabela Ojea
The U.K.'s Competition and Markets Authority said Friday that it
has cleared a proposed joint-venture agreement between the brewer
Carlsberg and the British beer company and pub operator
Marston's.
The transaction will now complete at the end of October, said
Marston's.
The U.K. regulator looked at whether the fact that Marston's
owns several pubs across the U.K. could harm competition, as
smaller independent brewers could be negatively affected by the
deal, but found that these pubs form only a small part of the
potential U.K. customer base for brewers.
"While the establishment of the joint venture means that the two
businesses are likely to distribute each other's products more
frequently, potentially leaving less room to take on other brands,
the CMA found that brewers will continue to have sufficient
alternative wholesalers to choose from after the merger," the
watchdog added.
Marston's shares at 0702 GMT were up 2.72 pence, or 6.6%, at
44.24 pence.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 09, 2020 03:31 ET (07:31 GMT)
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