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Courage, Grand Met complete deal.

Courage, Grand Met complete deal

The English unit of Australia's Elders IXL, Courage, and Grand Metropolitan PLC announced the two brewing concerns have reached a final agreement in their brewery-for-pubs exchange, according to last week's report in the Wall Street Journal.

Under the settlement, Courage will purchase all Grand Met's brewing, distributing and wholesaling entities. The two groups will also form an equal joint venture, called Inntrapreneur, to manage all pubs associated with the brewers.

Additionally, nearly 300 Courage pubs will be leased to Grand Met through Inntrapreneur to be operated by Grand Met along with its own retail establishments.

The agreement, which was slightly altered as a result of the government's review, now call for a shorter period of guaranteed beer supply as specified by the U.K. Office of Fair Trading. The settlement also includes a reduction in the value of pubs to be transferred to Inntrapreneur.
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Title Annotation:Courage Ltd.; Grand Metropolitan PLC
Publication:Modern Brewery Age
Date:Mar 4, 1991
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