Scottish & Newcastle told to dispose of 700 pubs
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE GOVERNMENT last night sought to influence Scottish & Newcastle's forthcoming pub-disposal programme, threatening to refer the brewer's recent pounds 1.14bn deal with Greenalls to the Competition Commission unless its concerns were addressed.
Kim Howells, the Competition and Consumer Affairs minister, said bringing together S&N's 2,650 pub estate with Greenalls' 821 pubs would give S&N more than a quarter of the outlets in seven local districts.
To comply with the "beer orders", S&N must dispose of 600-700 outlets and officials at the Department of Trade and Industry said the brewer should ensure sales in the seven, unnamed areas were included. S&N said it was happy to meet the directive.
Mr Howells said he wanted S&N to agree to reduce its pub holdings below 25 per cent in the areas within six months of the completion of the Greenalls deal.
A spokesman for S&N said: "We are delighted to give an undertaking, which allows us to refine our deal slightly."
Shares in S&N ended 2p lower at 556p, while Greenalls slipped 3p to 296p.
Under the long-expected deal, announced in September, S&N bought the Greenalls outlets to expand the geographical reach of its business across the country.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments