Sale of 42 pubs could pave the way for Stonegate acquisition of Ei Group
The proposed sale of 42 pubs might allay the Competition and Markets Authority's (CMA) concerns over Stonegate's £1.27b acquisition of Ei Group.
In a note published by the CMA today, it said the sales "might be acceptable as a suitable remedy" following its investigation, which found that while the deal does not raise competition concerns on a national level, there would be reduced choice for pub-goers in 51 local areas.
The report said: "The CMA currently believes that the proposed undertakings are capable of amounting to a sufficiently clear-cut and effective resolution of the CMA's competition concerns," adding that there are "several potential suitable purchasers who have expressed an interest" in purchasing the pubs.
The acquisition of Ei Group by Stonegate would create a 5,000-strong pub group.