French stock market drops after election surprise; Britvic agrees to improved Carlsberg offer – business live

French stock market drops after election surprise; Britvic agrees to improved Carlsberg offer – business live

Live coverage of business, economics and markets after New Popular Front is largest party in second round of France’s election, with far-right third

Shares in pub company Marston’s have surged by 20% after it agreed for Carlsberg to buy out its part of a brewing joint venture for £206m.

The deal means that Marston’s will abandon its roots as a brewer – previously known as Wolverhampton & Dudley Breweries – stretching back to 1875. Carlsberg will take complete control of ales including Hobgoblin, Brakspear, Pedigree and Wainwright.

Our core capability and key opportunity to unlock value for shareholders is in driving a focused and successful pub business.

This deal further strengthens our balance sheet, significantly reducing our debt by over £200m. In addition, CMBC remain valued strategic partners and we continue to benefit from our ongoing long-term brand distribution agreement with them. Crucially, it allows us to become a pure play hospitality business and focus on what we do best – namely, giving our guests amazing pub experiences.

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