A MULTI-BILLION-POUND deal has been struck which would lead to Belhaven Brewery having new owners.

Hong Kong-based property firm CK Asset Holdings has agreed to buy Greene King – which owns Belhaven Brewery and a number of pubs and hotels throughout the UK, including in East Lothian – for £2.7 billion.

The deal is still to be approved by Greene King shareholders.

Nick Mackenzie, chief executive of Greene King, said: “Greene King has a well-invested estate in prime locations, leading brands, a rich history and a talented team of 38,000 people serving millions of customers across the country every week.

“CKA is an experienced UK investor and shares many of Greene King’s business philosophies.”

Belhaven Brewery is currently celebrating its 300th birthday and has plans to hold a music festival next month to mark the historic occasion.

Household names including Dougie MacLean and Capercaillie, alongside innovative new bands like Assynt and Kinnaris Quintet, will take part in the festival, which will be a highlight of the year-long celebrations.

Iain Gray, East Lothian MSP, said: “This is clearly a significant development for the company, including Belhaven Brewery.

“The current management restated their commitment to Belhaven as recently as January this year.

“If the sale goes through, I will certainly be seeking confirmation from the new owners that the commitment to the brewery and their other Scottish interests will continue.”