Ardonagh Group / Bennetts Motorcycling Services merger inquiry

The CMA is investigating the completed acquisition by Ardonagh Group Limited of Bennetts Motorcycling Services Limited.

From:
Competition and Markets Authority
Published
2 July 2020
Last updated
11 February 2021 — See all updates
Case type:
Mergers
Case state:
Closed
Market sector:
Financial services
Outcome:
Markets - phase 1 undertakings in lieu of reference
Opened:
2 July 2020
Closed:
20 November 2020

Statutory timetable

Date Action
20 November 2020 Undertakings in lieu of reference accepted
16 September 2020 Decision announced
6 August 2020 Initial enforcement order
21 July 2020 Launch of merger inquiry
2 July 2020 Invitation to comment

Phase 1

Undertakings in lieu of reference accepted

20 November 2020: The CMA has accepted undertakings in lieu of reference for the completed acquisition by Ardonagh Group Limited of Bennetts Motorcycling Services Limited. The full text of the decision will be available shortly.

Amendments/consents granted

Undertakings in lieu of reference consultation

14 October 2020: We are consulting on proposed undertakings in lieu of a reference for the completed acquisition by Ardonagh Group Limited of Bennetts Motorcycling Services Limited. The CMA has corrected the definition of the business to be divested and has made other non-material changes to the undertakings and has therefore updated the deadline to respond.

CMA to consider undertakings offered

30 September 2020: The CMA considers that there are reasonable grounds for believing that the undertakings offered by Ardonagh Group Limited, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.

Reference unless undertakings accepted

16 September 2020: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

Directions to appoint a monitoring trustee

13 October 2020: On 11 September 2020, pursuant to an initial enforcement order dated 6 August 2020, the CMA directed Ardonagh Group Limited and Atlanta Investment Holdings C Limited to appoint a monitoring trustee.

Initial enforcement order

6 August 2020: The CMA has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 in relation to the anticipated acquisition by Ardonagh Group Limited of Bennetts Motorcycling Services Limited.

Amendments/consents granted

Launch of merger inquiry

21 July: The CMA announced the launch of its merger inquiry by notice to the parties.

Invitation to comment: now closed

2 July 2020: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

These comments should be provided by the deadline set out above.

Contact

Please send written representations about any competition issues to:

general.enquiries@cma.gov.uk

Published 2 July 2020
Last updated 11 February 2021 + show all updates

  1. Derogation published.

  2. Derogation published.

  3. Derogation published.

  4. Derogations published.

  5. Final undertakings and decision published.

  6. The CMA has accepted undertakings in lieu of reference for the completed acquisition by Ardonagh Group Limited of Bennetts Motorcycling Services Limited.

  7. Derogation published.

  8. Derogation published.

  9. The definition of the business to be divested has been corrected, and other non-material changes to the undertakings have been made. The deadline to respond to the consultation on provisional findings has been changed to reflect these changes.

  10. The decision to consider undertakings, the proposed undertakings and notice of consultation published. Directions to appoint a monitoring trustee published.

  11. Derogation published.

  12. CMA to consider undertakings offered published.

  13. Summary of Phase 1 decision published.

  14. Derogations published.

  15. Initial enforcement order published.

  16. Commencement of initial period notice published.

  17. First published.