Baker Hughes Nederland Holdings B.V. / Oz MidCo AS (Altus Intervention) merger inquiry
The CMA is investigating the anticipated acquisition by Baker Hughes Nederland Holdings B.V. of Oz MidCo AS (Altus Intervention).
Statutory timetable
| Phase 1 date | Action |
|---|---|
| 1 March 2023 | Undertakings in lieu of reference accepted |
| 17 February 2023 | Consultation on modified undertakings in lieu of reference |
| 3 February 2023 | Extension of consideration of undertakings in lieu granted |
| 17 January 2023 to 1 February 2023 | Consultation on proposed undertakings in lieu of reference |
| 6 December 2022 | CMA to consider undertakings offered |
| 22 November 2022 | Decision announced |
| 27 September 2022 | Launch of merger inquiry |
| 27 September 2022 to 11 October 2022 | Invitation to comment |
Phase 1
Undertakings in lieu of reference accepted
1 March 2023: The CMA has accepted undertakings in lieu of reference for the anticipated acquisition by Baker Hughes Nederland Holdings B.V. of Oz MidCo AS (Altus Intervention).
- (1.3.23)
- (1.3.23)
Modified undertakings in lieu of reference consultation: closed
17 February 2023: We are consulting on a modification to the proposed undertakings in lieu of a reference for the anticipated acquisition by Baker Hughes Nederland Holdings B.V. of Oz MidCo AS (Altus Intervention).
- (17.2.23)
- (17.2.23)
- (17.2.23)
Extension of consideration of undertakings in lieu
3 February 2023: The CMA has extended the consideration of undertakings in lieu until 31 March 2023.
- (3.2.23)
Undertakings in lieu of reference consultation: closed
17 January 2023: The CMA is consulting on proposed undertakings in lieu of reference offered by Baker Hughes Nederland Holdings B.V. and Oz MidCo AS (Altus Intervention) for the anticipated acquisition by Baker Hughes Nederland Holdings B.V. of Oz MidCo AS (Altus Intervention).
- (17.2.23)
- (17.2.23)
CMA to consider undertakings offered
6 December 2022: The CMA considers that there are reasonable grounds for believing that the undertakings offered by Baker Hughes Nederland Holdings B.V. and Altus Intervention Group AS or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.
- (22.12.22)
Reference unless undertakings accepted
22 November 2022: 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 an in-depth investigation unless the parties offer acceptable undertakings to address these competition concerns.
- (17.1.23)
- (22.11.22)
- Press release: Well intervention services deal could result in increased costs for UK oil and gas production(22.11.22)
Launch of merger inquiry
27 September 2022: The CMA announced the launch of its merger inquiry by notice to the parties.
- (27.9.22)
Invitation to comment: closes on 11 October 2022
27 September 2022: The 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:
Rafia Saif
Last updated 11 April 2023 + show all updates
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Case closed.
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The CMA has accepted undertakings in lieu of reference, with full text decision and final undertakings published.
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Notice of consultation and modified undertakings in lieu of reference consultation published.
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Notice of extension published.
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Phase 1 full text decision, proposed undertakings and notice of consultation published.
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Decision that undertakings might be accepted published.
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Consider undertakings offered announcement published.
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Considering undertakings offered announcement published.
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Phase 1 decision announced.
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First published.