UK's CMA launches formal probe into Carlsberg-Britvic deal (updated)
23/10/2024 08:07
(Adds background in paragraphs 2,3, Carlsberg spokesperson
comment in paragraph 4)
Oct 23 (Reuters) - Britain's Competition and Markets
Authority (CMA) said on Wednesday that it has launched a formal
investigation into the deal between Carlsberg CARLb.CO and
Britvic BVIC.L , setting a deadline of Dec. 18 for its phase-1
decision.
In July, Carlsberg struck a deal to acquire the British soft
drinks maker for 3.3 billion pounds ($4.28 billion), with the
Danish brewer aiming to establish a UK beverage "powerhouse".
The competition regulator said it is assessing whether the
deal is expected to result in a substantial reduction in
competition in any market in the United Kingdom for goods or
services.
"This is a normal process that was expected, and we look
forward to working constructively with the CMA as it
progresses," a Carlsberg spokesperson told Reuters in an emailed
statement.
Britvic did not immediately respond to a request for
comment.
($1 = 0.7708 pounds)
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by
Sonia Cheema)
((Aatrayee.Chatterjee@thomsonreuters.com;))