Interbrew’s Bass deal under UK review
With the European Commission (EC) having referred Interbrew’s £2.3 billion purchase of Bass’ beer division to the UK’s Department of Trade & Industry for competition scrutiny, Interbrew completed the acquisition of Bass Brewers. Thus in August Bass’ interest in brewing ended formally.
The deal with Interbrew was only conditional on EC approval. Interbrew has announced that it will co-operate fully with the UK authorities in their review of the acquisition of Bass Brewers. Pending that review, Bass Brewers and Interbrew UK (the former Whitbread Beer Company) will remain as separate companies. This view was voiced by Hugh Osmond, chairman of the Punch group, the UK’s leading pub operator.
In the wake of the EC’s announcement, a game of musical chairs ensued.1%..
Select offer and read on
6 print issues