Stonegate To Unload 42 Locations For £1.3B UK Pub Deal

Law360 (February 14, 2020, 2:52 PM EST) -- The U.K.’s competition watchdog on Friday accepted a proposed fix from Stonegate Pub Co. that will see it unload more than three dozen locations in order to move ahead with its planned £1.27 billion ($1.42 billion) purchase of rival pub owner Ei Group.

The Competition and Markets Authority said in December the deal could hurt consumers in around 50 local areas in the U.K. and gave the companies a week to offer a solution to the problem. Stonegate responded with a proposal to unload 42 pubs, which the agency reviewed and found would likely cure its concerns.

The CMA accepted the...

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