Heineken has sold 150 pubs in England, Scotland and Wales to Admiral Taverns, principally comprising former Punch Taverns sites.
The deal is reportedly worth around £50m.
Heineken had acquired 1,900 Punch pubs in 2017, but promised to sell 30 on the back of competition concerns. A CMA probe at the time had found the acquisition could reduce competition in 33 areas in Britain.
Earlier this year Admiral hired Heineken director Chris Jowsey as its new chief executive, succeeding Kevin Georgel.
CBRE’s operational real estate team advised the seller.
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