Heineken’s takeover of pubco giant Punch Taverns is set to go ahead after the Competition and Markets Authority (CMA) accepted undertakings from the Dutch company.
Heineken has joined with private equity firm Patron Capital to raise the funds for the deal, which would make it the third largest pubco in the UK, behind Greene King and Enterprise Inns.
The CMA had raised issues about competition in certain areas of the country. But it said: “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.
“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 two investigation.”
The deal should be completed by the end of this month.
