Tag Archive | "CMA"

BREAKING: NINE AP BRANCHES MUST BE SOLD TO ‘PURCHASER APPROVED BY CMA’

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BREAKING: NINE AP BRANCHES MUST BE SOLD TO ‘PURCHASER APPROVED BY CMA’


In a statement released by the Competition and Markets Authority (CMA), Euro Car Parts must now ‘sell a depot in each of these areas to a purchaser approved by CMA, so that customers don’t lose out’.

ECP bought most of the Andrew Page business in October 2016, after the latter went into administration.

A group of independent CMA panel members identified nine areas in England where the both companies were close competitors and where the merger could ‘significantly reduce competition’ for local customers.

The group did not consider that larger national or multi-regional customers would be adversely affected by the merger.

Professor Alasdair Smith, Inquiry Chair, said: “Following an in-depth investigation, we have found that this merger has the potential to drive up prices or reduce levels of service for customers in 9 local areas. That’s why we are requiring a depot in each area to be sold to a buyer approved by the CMA”.

“Outside of these areas, we did not find that the merger will further reduce competition compared to what would have happened if Euro Car Parts had not purchased Andrew Page”.

The nine affected areas are: Blackpool, Brighton, Gloucester, Liphook, Scunthorpe, Sunderland, Wakefield, Worthing and York. Swindon had also been identified during the provisional findings stage, but new evidence came to light which resulted in the group deciding that competition would not be affected in this area.

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BREAKING: ECP/ANDREW PAGE CMA FINAL REPORT PUBLISHED

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BREAKING: ECP/ANDREW PAGE CMA FINAL REPORT PUBLISHED


Breaking news: CMA has published its final report on the ECP takeover of Andrew Page.

You can read the full report here

Statement from ECP“Euro Car Parts welcomes today’s decision by the Competition & Markets Authority (CMA) to give approval to its proposed acquisition of Andrew Page, subject to the divestment of nine branches*. 

Euro Car Parts bought most of the Andrew Page business in October 2016, after the company went into administration. Euro Car Parts supports the CMA’s conclusion that “The group did not consider that larger national or multi-regional customers would be adversely affected by the merger”. 

Sukhpal Singh, Chairman of LKQ UK & ROI, commented “We are genuinely thrilled the future of the Andrew Page business has been secured, which celebrates its UK centenary this year. We remain committed to assuring that the Andrew Page ‘brand’ continues to thrive and remains separate from Euro Car Parts, but will benefit from our UK infrastructure, inventory and the financial support from the LKQ Corporation. 

“We very much hope that customers of Andrew Page will continue to support the business, and we will partner with them to ensure that the company’s proposition continues to meet their current and future requirements in the way they have come to rely upon and cherish. 

“I would like to thank all Andrew Page colleagues for their professionalism, with total focus on serving their customers during a challenging time. We wish to reassure them that we are committed not just to retaining them but to investing in their long-term progression and development.” 

Martin Gray, CEO of Euro Car Parts, stated: “Euro Car Parts will continue to work with the CMA to bring this process to a conclusion and will update as appropriate.  We are delighted that approval has been clarified. This will provide welcome direction and confirmation for our customers, employees, suppliers and shareholders.” 

*The 9 branches are: Blackpool, Brighton, Gloucester, Liphook, Scunthorpe, Sunderland, Wakefield, Worthing and York. Swindon had also been identified during the provisional findings stage, but new evidence came to light which resulted in the group deciding that competition would not be affected in this area.”

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CMA LATEST: CERTAIN ANDREW PAGE BRANCHES ‘DAMAGE COMPETITION’

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CMA LATEST: CERTAIN ANDREW PAGE BRANCHES ‘DAMAGE COMPETITION’


The Competition and Markets Authority (CMA) has provisionally found that the purchase by Euro Car Parts of much of the Andrew Page business could ‘damage competition in 10 local areas’.

Euro Car Parts bought most of Andrew Page in October 2016, after the latter went into administration. Following a complaint, a group of independent panel members at the Competition and Markets Authority (CMA) has investigated the merger. The group identified 10 local areas in England where the two companies were close competitors and where the merger could result in reduced competition for local customers, leading to higher prices or a lower quality of service.

The 10 areas mentioned in the draft are:

  • (a) Blackpool;
  • (b) Brighton;
  • (c) Gloucester; 
  • (d)  Liphook;
  • (e)  Scunthorpe;
  • (f)  Sunderland;
  • (g)  Swindon;
  • (h)  Wakefield;
  • (i)  Worthing; and
  • (j)  York.

The group did not consider that national or multi-regional customers would be adversely affected by the merger.

Professor Alasdair Smith, Inquiry Chair, said: “Andrew Page was in administration and would have closed down if a purchaser had not been found. The only two other purchasers would have bought a much smaller number of depots. We think that in most markets the merger will not further reduce competition compared to the alternative. However, in 10 local areas we are concerned that a reduction in competition could lead to higher prices and a lower quality of service.

In addition to the summary of provisional findings and the provisional findings report, a notice of possible remedies has been issued today, which outlines the measures the CMA could take if it still believes the merger would reduce competition when it makes its final decision. This identifies that competition could be maintained if Euro Car Parts sells depots in the 10 affected areas.

Anyone wishing to respond to the notice of possible remedies should do so in writing by no later than 28 September 2017. Anyone wishing to respond to the provisional findings should do so in writing, by no later than 5 October 2017.

More on this fast-moving story as soon as we get it – Ed

 

 

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