REG - Competition and Mkts - Merger Update: Carpenter Co. / Recticel NV/SA

Recticel NVAnnouncement

18/07/2022 08:15

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RNS Number : 7158S  Competition and Markets Authority  18 July 2022

Merger reference decision announced:

 

On 4 July 2022, the CMA decided that it was or may be the case that the
following Merger has resulted or may be expected to result in a substantial
lessening of competition within a market or markets in the United Kingdom.

 

Anticipated acquisition by Carpenter Co. of the engineered foams business of
Recticel NV/SA

 

Pursuant to section 73A(1) of the Act, on 11 July 2022, the Parties offered
undertakings to the CMA for the purposes of section 73(2) of the Enterprise
Act 2002 (the Act).

 

Following assessment of the undertakings, the CMA considers that the
undertakings offered by the Parties are not a clear-cut solution to the
competition concerns identified as arising from the Merger. Accordingly, the
CMA has decided not to exercise its discretion under section 73(2) of the Act
to accept undertakings in lieu of reference. Therefore, pursuant to sections
33(1) and 34ZA(2) of the Act, the CMA has decided to refer the Merger to its
chair for the constitution of a group under Schedule 4 to the Enterprise and
Regulatory Reform Act 2013 to conduct a phase 2 investigation.

 

The text of this decision will be placed on the Competition and Markets
Authority's website at https://www.gov.uk/cma-cases
(https://www.gov.uk/cma-cases) as soon as is reasonably practicable.

 

In the event of media enquiries please contact Press@cma.gov.uk
(mailto:Press@cma.gov.uk) .

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