Wednesday, May 23, 2007
Inchcape divesting to avoid Competition Commission
INCHCAPE AND the OFT have done a deal over competition issues surrounding Inchcape's acquisition of European Motor holdings last December.
The OFT was concerned about competition concerns in relation to the provision of servicing and repairs for new and nearly new Volkswagen cars in the area around Wrexham and Oswestry.
Inchcape has agreed to divest itself in these areas in return for which the OFT will not refer the take-over to the Competition Commission.
"The loss of EMH as a competitor could have led to higher repair and servicing charges for the owners of new and nearly-new VWs in the area," said Simon Pritchard, director of mergers. "We are content that the divestment offered by Inchcape will, when implemented, address our competition concerns.'"
DATED: 23.05.07
FEED: AW
The OFT was concerned about competition concerns in relation to the provision of servicing and repairs for new and nearly new Volkswagen cars in the area around Wrexham and Oswestry.
Inchcape has agreed to divest itself in these areas in return for which the OFT will not refer the take-over to the Competition Commission.
"The loss of EMH as a competitor could have led to higher repair and servicing charges for the owners of new and nearly-new VWs in the area," said Simon Pritchard, director of mergers. "We are content that the divestment offered by Inchcape will, when implemented, address our competition concerns.'"
DATED: 23.05.07
FEED: AW
