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The UK Competition & Markets Authority on Tuesday said it is considering whether the planned acquisition of Britvic PLC by Copenhagen-based Carlsberg AS could weaken competition in the UK for goods or services. The CMA is inviting interested parties to comment on the planned takeover, starting on Tuesday and running until September 24. A Carlsberg spokesperson said Tuesday: ‘We believe that the combination of Carlsberg’s business with Britvic will create a highly attractive multi-beverage supplier, benefitting from an efficient supply chain and distribution network, and providing customers with a portfolio of market leading brands and leading customer service. The CMA’s invitation to comment is a standard step in its review of the transaction and was always fully expected. Following approval from Britvic’s shareholders last month, and subject to regulatory approvals and other outstanding conditions being satisfied, the transaction is expected to complete by Q1 2025.’ In July, Britvic, the Hemel Hempsted-based soft drinks manufacturer, agreed a takeover that values each Britvic share at 1,315 pence per share. This comprises 1,290p per share in cash and a special dividend of 25p. The deal values Britvic, which makes Robinsons, J2O and Tango, at around £3.3 billion on a fully diluted basis with an implied enterprise value of around £4.1 billion. Britvic shares were down 0.1% at 1,275.26p each on Tuesday afternoon in London, giving it a market capitalisation of £3.17 billion. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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