Utilities Trust of Australia / Hastings Diversified Utilities Fund of Swan Group

OFT closed case: Completed acquisition by United Trust of Australia and Hastings Diversified Utilities Fund of Swan Group (holding company of Mid Kent Water).

Affected market: Water supply

No. ME/1647/05

The OFT’s decision on reference under section 22 given on 19 April 2005

On the basis of the information available to it, the Office of Fair Trading has decided that the completed acquisition by Utilities Trust of Australia and Hastings Diversified Utilities Fund of Swan Group 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.

A mandatory reference under the Water Industry Act 1991 is not triggered as only one water enterprise is involved in this transaction.

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