Anticipated acquisition by KiFin Limited of Minerva plc
Affected market: Property development and investment
Found not to qualify.
1. On the basis of the information available to it, the Office of Fair Trading has decided that the anticipated acquisition by KiFin Limited of Minerva plc does not qualify for investigation under the mergers provisions of the Enterprise Act 2002 (the Act), because neither the UK turnover test nor the share of supply test in section 23 of the Act is met. A relevant merger situation has, therefore, not been created.
2. A third party queried whether a number of concert parties (under the Takeover Code) should be treated as associated persons for the purposes of section 127(1) of the Act. However, the OFT has not needed to determine this question because, even if this were the case, this would not alter the OFT's conclusion that the share of supply test is not met