CMA Inquiry Into Joint Venture Between Carlsberg UK And Marston's

Publication Date17 September 2020
Subjectorporate/Commercial Law, Anti-trust/Competition Law, M&A/Private Equity, Antitrust, EU Competition
Law FirmWalker Morris
AuthorMr Richard Naish and Trudy Feaster-Gee

On 18 August 2020, the Competition and Market's Authority (CMA) launched its phase 1 investigation into the merger of Marston's brewing business with Carlsberg UK. The joint venture, which was agreed in May but is now on hold, would see the merger of Marston's brewing business with the UK division of Carlsberg, which is the world's fourth-largest brewer. Under the terms of the joint venture, 60 per cent of the newly-created Carlsberg Marston's Brewing Company would be controlled by Carlsberg UK, which will be entitled to have its drinks sold in Marston's pubs and bars.

The CMA is assessing whether the joint venture would lead to a 'substantial lessening of competition' in the UK. Interested parties had until 2 September 2020 to submit comments to the CMA on the arrangement. The two...

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