CMA approves Heineken's Punch purchase if 33 pubs are sold

The UK competition regulator has approved the sale of a swathe of Punch Taverns' pubs to Heineken as long as the Dutch brewer sells

The Competition and Markets Authority (CMA) had expressed concern that the purchase could reduce competition in 33 local areas across Britain.

Before the merger was referred for a deeper probe, Heineken was given the opportunity to propose ways of address this concern.

As a result, the Amsterdam-headquartered company has offered to sell pubs in each of the affected areas to preserve competition and ensure customers in these locations do not lose out.

"The CMA is satisfied that its concerns have been addressed and has therefore decided that the merger will not be referred for an in-depth phase 2 investigation."