Coming hot on the heels of the news that Heineken rejected the SABMiller £82bn takeover bid, the brewery giant has confirmed the sale of 111 pubs to Admiral Taverns for an undisclosed amount.
The sale of Heineken's Star Pubs & Bars sites is expected to complete during October 2014.
Alongside the sale agreement, the two parties have agreed that Heineken will continue to offer its ciders and beers to these 111 pubs.
Heineken stated that following completion of the sale, the Star Pubs and Bars business will comprise an estate of around 1,100 pubs across the UK.