Heineken’s Punch deal off the hook

Heineken’s takeover of pub group Punch Taverns will not face an in-depth competition probe after the brewer offered to sell pubs to address concerns.

The Competition and Markets Authority (CMA) had criticised there were 33 areas where pubs would not face sufficient competition if the deal went ahead.

But following Heineken’s offer to sell pubs in the affected areas, the CMA said it was satisfied its concerns had been addressed.

Heineken will buy 1,895 Punch pubs, while private equity firm Patron Capital will take over the remaining 1,329 pubs in the Punch estate.

Heineken already owns 1,100 pubs in the UK.

The CMA’s preliminary investigation concluded that the deal would not damage the chances of Heineken’s competitors selling their own products, as the pubs being bought only make up 4 percent of the market.