UK: Marston’s says completion of JV with Carlsberg expected in fourth quarter

Marston's PLC said on July 23 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, marketscreener.com reported.

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.

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