Marston's Expects Completion of Carlsberg JV to Be Delayed to 4Q
July 23 2020 - 7:54AM
Dow Jones News
By Adria Calatayud
Marston's PLC said Thursday that the completion of a brewing
joint venture it has agreed to form with Carlsberg A/S is now
expected in the fourth quarter, slightly later than previously
indicated.
The U.K. Competition and Markets Authority, rather than the
European Commission, will now likely be the relevant competition
authority, the British pub operator said.
Marston's said the transaction isn't expected to raise any
competition concerns, and the group has sufficient liquidity to
meet its requirements ahead of completion.
Marston's in May said it had formed a JV with Carlsberg UK
Holdings Ltd. to create the Carlsberg Marston's Brewing Company, a
new U.K. brewer and distribution company.
The U.K.'s Campaign for Real Ale has called for an investigation
into the deal, calculating that the deal will increase the stake of
global brewers in British pub companies to close to 32% from 25%
currently.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 23, 2020 07:39 ET (11:39 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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