BCA Marketplace / SMA Vehicle Remarketing merger inquiry

The CMA investigated the completed acquisition by BCA Trading Limited, a subsidiary of BCA Marketplace plc of SMA Vehicle Remarketing Limited.

Statutory timetable

Phase 1 date Action
7 January 2016 Decision published
23 December 2015 Undertakings in lieu accepted
17 November 2015 Decision announced
22 September 2015 to 5 October 2015 Invitation to comment
22 September 2015 Launch of merger inquiry
22 June 2015 Initial enforcement order

Phase 1

Undertakings in lieu of reference accepted

23 December 2015: The CMA has accepted undertakings in lieu of reference for the completed acquisition by BCA Trading Limited, a subsidiary of BCA Marketplace plc of SMA Vehicle Remarketing Limited. A copy of the undertakings and the decision can be found below.

Undertaking in lieu of reference consultation: Now closed

4 December 2015: We are consulting on a proposed undertaking in lieu (UIL) of a reference for the anticipated acquisition by BCA Marketplace plc of SMA Vehicle Remarketing Ltd.

CMA to consider undertakings offered

1 December 2015: The CMA considers that there are reasonable grounds for believing that the undertakings offered by BCA, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002. A copy of the notice is available below.

Reference unless undertakings accepted

17 November 2015: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger, if carried into effect, 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 BCA offers acceptable undertakings to address these competition concerns. The full text of the decision is available below.

Invitation to comment: Now closed

22 September 2015: The CMA is considering whether it is or may not be the case that this transaction has resulted 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 has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

Launch of merger inquiry

22 September 2015: The CMA announced the launch of its merger inquiry by notice to the parties.

Initial enforcement order

22 June 2015: The CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on BCA Marketplace plc and BCA Trading Limited in relation to the completed acquisition of SMA Vehicle Remarketing Limited.

Amendments/consents granted:

Contact

Please send written representations about any competition issues to:

Peter Swan
Competition and Markets Authority
Victoria House
Southampton Row
London
WC1B 4AD

peter.swan@cma.gsi.gov.uk

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