1:11 pm, June 19, 2013
THE Office of Fair Trading (OFT) is taking a look at JCT600’s recent acquisition of the Gilder Group.
The body believes the buy-out may have ‘lessened competition’ in the marketplace.
In a statement on its website, the OFT said: ‘The Office of Fair Trading is considering whether this agreement has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation 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.’
JCT600’s chief executive, John Tordoff (pictured), said: ‘Following the recent acquisition of the Gilder Group by JCT600, we have been approached by the OFT who have the authority to investigate mergers and acquisitions in the UK.
‘We are currently providing them with the information they have requested in order that they can conclude their routine investigation as soon as possible.
‘We are firmly of the view that the acquisition has not led to a substantial lessening of competition.’
The OFT has set a date of July 2 for competition comments.
Car Dealer will report more on this story as the situation develops.
