Ausurus Group/Metal & Waste Recycling merger inquiry

The CMA is investigating the completed acquisition by Ausurus Group Ltd through its subsidiary European Metal Recycling Limited of Metal & Waste Recycling Limited.

Phase 2

Final report

Responses to supplementary provisional findings in relation to London

Supplementary provisional findings in relation to London

Invitation to comment: now closed

19 July 2018: On 4 June 2018 the inquiry group published its provisional findings that the transaction has or may be expected to result in a substantial lessening of competition in five markets. Since publication of those findings, the inquiry group has received additional evidence from industry participants. In light of this new evidence the inquiry group has now come to a different provisional finding to that originally consulted on, in relation to purchasing of ferrous and non-ferrous metal in London – the inquiry group now provisionally finds that no substantial lessening of competition is expected in that market. In order to consult on this new finding and the evidence that underpins it, we have today published a supplementary provisional findings document in relation to London.

Administrative timetable

Date of referral: 7.2.18

Statutory deadline: 24.9.18 (with 8 week extension)


Provisional findings

1 June 2017: The CMA has provisionally found that the merger between European Metal Recycling and Metal and Waste Recycling may give rise to competition concerns in the metal recycling sector in the UK.


The publication of the evidence of any party on the CMA’s webpages does not indicate in any way endorsement by the CMA of the views expressed in the evidence or acceptance of that evidence. Publication in this way is designed to assist public understanding of the issues.

Response to Remedies Notice

Response to provisional findings

  • EMR (27.6.18)

Third party evidence

Response to the phase 1 decision

  • EMR (13.3.18)

Issues statement

8 March 2018: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.

Directions to appoint a monitoring trustee

26 February 2018: On 23 February 2018, pursuant to an initial enforcement order dated 11 September 2017, the CMA directed Ausurus Group Limited to appoint a monitoring trustee.

Inquiry group appointed

7 February 2018: The CMA has appointed the inquiry group.

Lesley Ainsworth (Group Chair), Richard Feasey, Stuart McIntosh and Andrew Popham

Terms of reference

7 February 2018: The CMA has referred European Metal Recycling Limited’s acquisition of Metal & Waste Recycling Limited for an in-depth investigation.

Statutory timetable

Phase 1 date Action
7 February 2018 Decision published
24 January 2018 Decision announced
27 November to 11 December 2017 Invitation to comment
27 November 2017 Launch of merger inquiry
11 September 2017 Initial enforcement order

Phase 1

Reference decision

Reference unless undertakings accepted

24 January 2018: 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.

Invitation to comment: Now closed

27 November 2017: The CMA is considering whether it is or may 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

27 November 2017: The CMA announced the launch of its merger inquiry by notice to the parties.

Initial enforcement order

On 11 September 2017,the CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on European Metal Recycling Limited, in relation to the completed acquisition by European Metal Recycling Limited of Metal & Waste Recycling Limited.

Amendments/consents granted


Please send written representations about any competition or public interest to:

Alison Trinkl
Competition and Markets Authority
Victoria House
Southampton Row

Published 12 September 2017
Last updated 14 August 2018 + show all updates
  1. Final report, appendices and glossary and EMR additional response to third party comments published.
  2. Market participant response published.
  3. Responses to supplementary provisional findings in relation to London published.
  4. Notice of extension, supplementary provisional findings and updated administrative timetable published.
  5. Response to remedies notice published under 'Evidence'.
  6. Derogation published.
  7. EMR responses to provisional findings published.
  8. Provisional findings report, survey report and appendices published.
  9. Summary of provisional findings published.
  10. Derogation added.
  11. Derogation added.
  12. Derogations added.
  13. Issues statement, phase 1 response and summary submission published.
  14. Derogation published.
  15. Monitoring trustee order has been published.
  16. Full administrative timetable published and Inquiry group appointed.
  17. Full text decision and reference decision published.
  18. Reference unless undertakings accepted.
  19. Derogation published.
  20. Launch of CMA merger inquiry & commencement of initial period notice published.
  21. Derogation published.
  22. First published.