Greene King's takeover of Spirit expected to be completed within days

The £774m takeover of the Spirit Pub Company by rival group Greene King has moved a step closer.

In a statement issued by Greene King this morning (11 June), the two businesses announced that the proposed deal is no longer conditional on the approval of the Competition and Markets Authority.

It is now expected that the takeover will be confirmed on 19 June, with trading in shares of Spirit suspended on 23 June and dealings in new Greene King shares commencing the following day.

Spirit has 770 managed pubs, including the Chef & Brewer, Taylor Walker and Fayre & Square brands, while Greene King has 1,000 managed pubs and around 900 tenanted and leased pubs.

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