Announcement Imminent On BWG-Londis Takeover Bid
The Competition and Consumer Protection Commission is expected to reveal by next week whether it is in a position to clear BWG Group's takeover of the ADM Londis retail chain.
A spokesperson for the Commission told Checkout that following the completion of the Phase 1 submissions phase, an announcement will be made on or before 16 June as to whether the deal will be cleared.
Alternatively, the deal will move on to Phase 2 investigation phase, if the Commission is 'unable to conclude that the proposed transaction will not lead to a substantial lessening of competition in any market for goods or services in the State'.
The proposed deal was notified to the Competition and Consumer Protection Commission on 27 February.
As Londis chief executive Stephen O'Riordan explained in a letter to retailers back in February, "BWG has confirmed that it is committed to retaining and promoting the Londis brand and to investing in its future growth and development. We believe that being part of a global business of scale will further enhance competiveness for consumers and franchisees.
"We are encouraged by BWG’s commitment to supporting the brand and to investing alongside you, our retailers, for continued growth."
© 2015 - Checkout Magazine by Stephen Wynne-Jones