Heineken selling pubs

HEINEKEN has pledged to sell pubs in 33 towns and cities to win competition approval for its takeover of Punch Taverns.

The Dutch firm hopes the offer will satisfy officials worried it would increase prices in areas where the merged group would control the market.

The Competition and Markets Authority yesterday said the sales may well be enough – but it would decide by August 22. If not, a more in-depth investigation could be launched.

Heineken agreed to buy 1,895 Punch sites in December, overcoming resistance from tenants who feared they would have to stock only Heineken brands.