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Interbrew achieves unprecedented victory in Bass ruling
Belgian brewing giant, Interbrew, has won an unprecedented victory in its case against the government for its blocking of the £2.3bn Bass Brewers acquisition. Last December, the Trade Secretary Stephen Byers, backed by the Competition Commission, ordered Interbrew to resell Bass' brewing arm, the maker of Carling and Tennent's lager. Yesterday, however, the High Court overturned the Competition Commission's decision, ruling that it was unfair. Judge Alan Moses told the hearing: I am driven to the conclusion that there was such unfairness that decision cannot stand. It must follow that the Secretary of State's decision must also be set aside. While Justice Moses reversed the decision, he did rule that the Commission was within its right to recommend disposal. Interbrew chief executive, Hugo Powell, will return to court on Friday to discuss the next steps with the government, because while Interbrew no longer has to sell Bass, it has yet to win the Commission's consent for the deal. A spokesperson for Interbrew, the world's second largest brewer and maker of Stella Artois, welcomed the decision.
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