The Competition and Markets Authority has formally launched its investigation into the completed acquisition by Pennon Group plc of Bristol Water Holdings UK Ltd under the provisions of the Enterprise Act 2002 and the Water Industry Act 1991.
The Competition and Markets Authority has formally launched its investigation into the completed acquisition by Pennon Group plc of Bristol Water Holdings UK Ltd under the provisions of the Enterprise Act 2002 and the Water Industry Act 1991.
The CMA is now inviting comments from interested stakeholders – deadline to submit responses is 1st October 2021.
Anticipated current statutory deadline for the announcement of the CMA’s initial phase 1 decision is 12 November 2021.
However, the CMA cannot guarantee that the decision will be announced on or before that date - the deadline of a given case may change during the merger assessment process due to different reasons.
Under the terms of the inquiry the Authority is considering whether “it is or may be the case that a merger of two or more water enterprises has taken place and, if so, whether the creation of that situation is likely to prejudice Ofwat’s ability, in carrying out its functions, to make comparisons between water enterprises.”
The CMA is also considering whether the transaction has resulted in the creation of a merger situation under the merger provisions of the Enterprise Act 2002. If so, the CMA will also consider whether this 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.
The CMA is inviting interested parties to send written representations to James McGarrachan at
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