UK competition watchdog clears Carlsberg's $4.23 bln acquisition of Britvic

Reuters12-17

UPDATE 1-UK competition watchdog clears Carlsberg's $4.23 bln acquisition of Britvic

Adds background in paragraphs 2 and 3, Carlsberg & Britvic response in paragraph 4

Dec 17 (Reuters) - Britain's competition regulator cleared Carlsberg's CARLb.CO deal with soft drinks maker Britvic BVIC.L on Tuesday, saying it would not refer the $4.23 billion transaction for an in-depth probe.

Carlsberg struck a deal to acquire the British soft drinks maker in July, aiming to establish a UK beverage "powerhouse".

The deal, which is expected to close on Jan. 16, will see the Danish brewer taking over Britvic's bottling agreement with PepsiCo PEP.O. Carlsberg already bottles PepsiCo drinks in several markets and sees potential to expand into additional geographies in the future.

Carlsberg and Britvic said in a separate joint statement that all regulatory conditions have been satisfied, including clearances from the European Commission and the UK's Competition and Markets Authority.

(Reporting by Prerna Bedi and Aby Jose Koilparambil in Bengaluru; Editing by Abinaya Vijayaraghavan)

((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))

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