Competition watchdog approves Heineken's takeover of UK pubs

British competition watchdog CMA approved Heineken's acquisition of Punch Taverns' British pubs. The Dutch brewer made sufficient concessions to remove competition concers, the CMA decided, ANP reports.

The supervisor found 33 locations where the competition between pubs would be affected by Heineken taking over the Punch Taverns pubs. Heineken then submitted proposals to sell the pubs involved.

Heineken is paying 305 million pounds, about 347 million euros, for the 1,900 Punch Taverns pubs. The Dutch brewer already owns over a thousand pubs in Britain under the name Star Pubs & Bars. The new pubs will be integrated into that brand. With the acquisition, Heineken will be the second biggest pub operator in Britain, according to the news wire.