Merger Update: Ardonagh/Bennetts

CMA invites comments on motorcycle insurance merger remedy:

The Competition and Markets Authority (CMA) has opened a consultation on undertakings proposed by Ardonagh Group Limited (Ardonagh) to address competition concerns over its acquisition of Bennetts Motorcycling Services Limited (Bennetts).

On 16 September 2020, the CMA announced that it would refer the acquisition for an in-depth investigation unless Ardonagh offered acceptable undertakings to address the CMA's concerns.

To address the CMA's concerns, Ardonagh has offered to divest the entire issued share capital of Bennetts to a purchaser approved by the CMA.

On 30 September 2020, the CMA announced that it would look in detail at these undertakings. The CMA has until 25 November 2020 to consider whether to accept the undertakings, or a modified version of them. As part of this process, the CMA is now consulting publicly on whether the proposals are sufficient to address the CMA's competition concerns.

Before reaching a final decision, the CMA is therefore inviting interested parties to make their views known. The deadline for responses is 27 October 2020.

The consultation on the undertakings and all other information relating to this merger investigation can be found on the case page at https://www.gov.uk/cma-cases.