COPENHAGEN - Carlsberg (CSE: ) A/S, through its subsidiary Carlsberg UK Holdings Limited, has received regulatory approvals from the European Commission and the UK's Competition and Markets Authority (CMA) for its acquisition. British (LON:) PLC. This development satisfies the regulatory conditions specified for the proposed takeover.

The transaction, first announced on July 8, 2024, is intended to be completed through a court-approved scheme of arrangement. Following the publication of the scheme document on 22 July 2024, Britvic shareholders approved the acquisition on 27 August 2024.

With regulatory hurdles now cleared, the acquisition awaits final court approval at a hearing scheduled for January 15, 2025. If the remaining conditions are satisfied or waived, the effective date of the scheme is expected to be January 16, 2025.

The timetable for the next steps in the acquisition includes the suspension of Britvic shares by 7:30am on January 17, 2025, and their delisting by 7:30am on January 20, 2025. In addition, a special dividend will be paid. Britvic shareholders after January 16, 2025, and by January 30, 2025, with cash consideration under the scheme remitted by the same date.

The acquisition is part of the strategic expansion of Carlsberg, a key player in the Britvic soft drinks industry. Finalization of the deal is subject to court approval and satisfaction of other general conditions. The latest date by which the scheme can come into effect is set for July 15, 2025, though it can be extended if required.

The information in this article is based on a press release statement.

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