£403m Punch deal gives Heineken 1,900 pubs

Vine Acquisitions, an investment vehicle part-owned by brewing colossus Heineken, has won approval to buy Punch Taverns for £403m.

Shareholders in Punch, which owns 3,300 pubs across the UK, gave their overwhelming approval to the deal at yesterday’s annual general meeting.

Heineken will take around 1,900 pubs while its partner in Vine, Patron, will take the rest. The deal still has to be approved by regulators.