May 22, 2020 / 12:57 PM / 14 days ago

Marston's and Carlsberg UK brew up a joint venture

May 22 (Reuters) - Marston’s said on Friday it has formed a joint venture with Carlsberg UK to create a brewing and distribution company, in which the British pub operator will get a 40% stake and a cash payment of 273 million pounds.

Marston’s, whose pubs have been forced shut due to the coronavirus crisis, said the partnership values its brewing business at up to 580 million pounds ($706.03 million) and Carlsberg UK’s brewing business at 200 million pounds.

The joint venture has been named Carlsberg Marston’s Brewing Company. ($1 = 0.8216 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shinjini Ganguli)

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