Slaughter and May is advising Marston’s PLC on the proposed disposal of its 40% stake in Carlsberg Marston’s Limited

Slaughter and May is advising Marston’s PLC (“Marston’s”) on the proposed disposal of its 40% stake in Carlsberg Marston’s Limited (“CMBC”) to a subsidiary of Carlsberg A/S (“Carlsberg”) (the “Transaction”) for £206 million in cash. Marston’s is a leading pub operator with an estate of c.1,370 pubs nationally, comprising managed, partnership (‘franchised’) and tenanted and leased pubs. CMBC is one of the UK’s largest brewers and the leading UK brewer of cask ale. 
 
Slaughter and May advised Marston’s on the formation of CMBC in 2020 through its joint venture partnership with Carlsberg. Four years on, the Transaction will see Marston’s dispose of its remaining non-core brewing assets to create a business entirely focused on pubs.
 
Completion is targeted before the end of July 2024.
 
Slaughter and May worked closely with the Marston’s in-house legal team which was led by Bethan Raybould, General Counsel and Company Secretary.