COPENHAGEN – Carlsberg (CSE:) A/S, through its subsidiary Carlsberg UK Holdings Limited, has received regulatory approval from the European Commission and the UK Competition and Markets Authority (CMA) for the acquisition of British (LON:)PLC. This development satisfies the regulatory conditions described for the proposed acquisition.
The transaction, first announced on July 8, 2024, is intended to be completed through a court-sanctioned scheme of arrangement. Following the publication of the Plan Document on July 22, 2024, Britvic shareholders approved the acquisition on August 27, 2024.
With regulatory hurdles cleared, the acquisition awaits final court sanction at a hearing scheduled for January 15, 2025. If remaining conditions are met or waived, the plan’s effective date is expected to be January 16. January 2025.
The schedule for the next steps of the acquisition includes the suspension of Britvic shares before 7:30 am on January 17, 2025 and the cancellation of its listing before 7:30 am on January 20, 2025. In addition, a special dividend will be paid to Britvic Shareholders after January 16, 2025 and before January 30, 2025, and the cash consideration under the plan will be sent on the same date.
This acquisition is part of Carlsberg’s strategic expansion, with Britvic being a major player in the soft drinks industry. Completion of the deal is subject to court approval and compliance with other general conditions. The last date on which the plan can come into force is set for July 15, 2025, although it may be extended if necessary.
The information in this article is based on a press release.
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