Marston’s and Carlsberg UK’s joint venture delayed

Pub operator Marston’s has announced its merger with brewing company Carlsberg UK has been delayed, pending a review by the Competition and Markets Authority (CMA).

Marston’s had expected the deal, which is worth a total of £780m, to be completed in the third quarter of this year, but this has now been pushed back to its fourth quarter.

The pub operator said it has been advised that for procedural reasons, the UK CMA, will now likely be the relevant competition authority, rather than the European Commission.

In a statement, Marston said: “As stated previously, we do not expect that the transaction raises any competition concerns and are satisfied that the group has sufficient liquidity in place to meet its requirements ahead of completion.”

The joint venture, which was announced in May, will bring together the two brewers  to create “significant value” for its employees, customers and consumers in the UK market. 

Carlsberg Marston’s Brewing Company will offer a portfolio of international, national and regional beer brands, with Carlsberg lager and world beer brands, and Marston’s cask and packaged ales. 

Carlsberg UK and Marston’s will be the sole stakeholders in Carlsberg Marston’s Brewing Company, with Carlsberg UK being the majority shareholder, owning 60% of the equity.