1:07 pm, September 4, 2013
THE Office of Fair Trading is to investigate dealer group Lookers’ take-over of Shields Automotive, it has been announced.
The merger of the two businesses was completed in May, with Lookers paying £8.75m for the Shields company.
However, the watchdog will now look at the deal to assess whether it ‘has resulted, or may be expected to result, in a substantial lessening of competition’.
When the deal was completed, Lookers’ chief operating officer said: ‘We have long admired the Shields Land Rover business.
‘Joe O’Donnell, the owner of Shields, wants to retire from the industry and he was keen that his business was sold to a new owner which would continue to invest in the future development of his staff, many of whom have been with him for many years.’
This story will be updated when more news is revealed
