Heineken / Punch Taverns merger inquiry

The CMA investigated the anticipated acquisition by Heineken UK Limited of Punch Taverns Holdco (A) Limited.

Statutory timetable

Phase 1 date Action
18 August 2017 Undertakings in lieu of reference accepted
11 July 2017 Decision published
13 June 2017 Decision announced
16 February to 2 March 2017 Invitation to comment
16 February 2017 Launch of merger inquiry

Phase 1

Undertakings in lieu of reference accepted

18 August 2017: The CMA has accepted undertakings in lieu of reference for the anticipated acquisition by Heineken UK Limited of Punch Taverns Holdco (A) Limited. A copy of the undertakings and the decision are available below.

Modified undertaking in lieu of reference consultation: now closed

8 August 2017: We are consulting on a modification to the proposed undertakings in lieu of a reference for the acquisition by Heineken UK Limited of Punch Taverns Holdco (A) Limited.

Undertakings in lieu of reference consultation: now closed

11 July 2017: We are consulting on proposed undertakings in lieu of a reference for the anticipated acquisition by Heineken UK Ltd of Punch Taverns Holdco (A) Ltd.

CMA to consider undertakings offered

27 June 2017: The CMA considers that there are reasonable grounds for believing that the undertakings offered by Heineken, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002. A copy of the decision is available below.

Reference unless undertakings accepted

13 June 2017: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns. The full text of the decision is available below.

Notice of extension of the preliminary assessment period

Invitation to comment: Now closed

16 February 2017: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

Launch of merger inquiry

16 February 2017: The CMA has launched its phase 1 investigation following the European Commission’s decision to refer the case to the United Kingdom under Article 4(4) of the EC Merger Regulation.

Contact

Please send written representations about any competition issues to:

Lasse Burmester
Competition and Markets Authority
Victoria House
Southampton Row
London
WC1B 4AD

lasse.burmester@cma.gsi.gov.uk

Published 16 February 2017
Last updated 23 August 2017 + show all updates
  1. Undertakings in lieu acceptance decision published.
  2. Undertakings in lieu of reference accepted.
  3. Modified undertakings in lieu of reference consultation launched.
  4. Full text decision published, decision that undertakings might be accepted published, and undertakings in lieu of reference consultation launched.
  5. CMA to consider undertakings announcement added.
  6. Decision announced: reference unless undertakings accepted.
  7. Timetable updated and notice published.
  8. Notice of extension published.
  9. Timetable updated and notices published.
  10. Notices published and timetable updated.
  11. First published.