Restore acquisition under investigation

May 8, 2018

The UK Competition and Markets Authority has revealed that it is investigating the acquisition of a unit of TNT UK Ltd by Restore PLC.

In March 2018, The Recycler reported that Restore PLC had commenced the acquisition of the records management business unit of TNT UK Ltd, known as TNT Business Solutions.

The acquisition, for the sum of £88 million ($118.8 million/€100 million), was slated to be finalised on 1 May 2018.

Now, as Morningstar reports, the UK CMA has announced that it has filed an initial enforcement order on this acquisition, “meaning it is looking to review the acquisition and its effects on competition after completion, pausing further integration of the businesses.”

 

Categories : City News

Tags : Acquisition Business Investigation Restore PLC TNT UK Ltd UK UKCMA