Greene King gets green light

Greene King’s offer for Scottish brewer and pub company Belhaven will not be referred to the Competition Commission.
 
The announcement by the Office of Fair Trading will allow Greene King’s £187m bid for Scotland’s last independent brewer to progress a pace.

However, consumer group the Campaign for Real Ale (Camra), which opposed Greene King’s summer purchase of Essex pub operator and brewer Ridley's, is unlikely to be so easily placated.

Camra Scottish director Ken Davie said back in August when the deal was made public that it would be a disaster to lose Scotland's last independent brewer.

"While we welcome Greene King's intention to keep the brewery open, the loss of Belhaven as an independent company is a bitter blow to consumer choice and competition in Scotland,” he added.

Greene King raised £47m through a share placing to fund the deal.

Belhaven’s turnover in the year to 3 April 2005 was up 20.5% to £114.44m.

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