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CNBC Exclusive: CNBC’s Becky Quick Interviews York Capital Management’s James Dinan from CNBC Institutional Investor Delivering Alpha Conference

WHEN: WEDNESDAY, JULY 15TH

WHERE: CNBC'S "Squawk Alley"

Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with James Dinan, York Capital Management CEO and Founder, live from the CNBC Institutional Investor Delivering Alpha conference in New York City on Wednesday, July 15th. Video from the interview can be found at deliveringalpha.com.

Mandatory credit: CNBC Institutional Investor Delivering Alpha conference.

DINAN ON CONSUMER BUSINESSES

We think all these industries are good stable businesses. They are safe to own you don't have to worry about someone waking up and deciding nobody is going to eat Oreo cookies again. That you don't have to worry about.

DINAN ON BEER INDUSTRY

I think there is a decent chance that the global beer industry will continue to see a consolidation. There are going to be winners from it. We like the fundamentals and the valuations on this industry as they trade today.

DINAN ON RULES CHANGING

The trick is not to be afraid of the rules changing as much, even though they do make mistakes because every corner's got a ghost or two, but make sure you size those positions so if it does happen, you can still live with it.

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