£400m Punch Taverns acquisition in question after watchdog ruling
The £402m deal for the sale of Staffordshire pubco Punch Taverns has been placed in question after a new ruling from the competition watchdog.
Punch shareholders approved the sale of the group to Vine Acquisitions in February on the basis of an offer of 180 pence per share, a price which values the business at £402.7m.
Heineken and Patron Capital, using Vine Acquisitions as an SPV, have agreed the deal, which will see them acquire the entire and to be issued share capital of the Burton-upon-Trent company.
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