Following the General Meeting on 25 June 2020, shareholders approved the Joint Venture between Marston’s Beer Company and Carlsberg UK. Results of the meeting can be found here.
The JV completed on 30th October, and Marston's now holds a 40% stake in the Carlsberg Marston’s Brewing Company and will receive a cash payment of up to £273 million. Carlsberg UK will hold 60% of the Joint Venture. This will allow Marston's to deliver on our debt reduction target whilst providing financial flexibility. We will be able to focus on our pub and accommodation business while retaining a substantial interest in a larger, more attractive brewing business. More information on the Joint Venture can be found in our news section.
We are classified by FTSE as being in the Restaurants and Bars sub-sector of the Travel and Leisure sector.
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