Merger Update: Montagu / ParentPay

RNS Announcement

RNS Number : 7312Y

Competition and Markets Authority

17 May 2021

Start of CMA Merger Investigation: anticipated acquisition by Montagu Private Equity LLP where it agreed to (i) acquire certain ParentPay (Holdings) Limited (PPH) securities, and (ii) sell its shares in Capita ESS Limited (ESS) to PPH, in consideration for further securities in PPH.

The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction 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 may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

The CMA announced the launch of its merger inquiry by notice to the Parties on 14 May 2021 and has a deadline of 12 July 2021 for its phase 1 decision.

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RNS metadata

Title: Merger Update: Montagu / ParentPay
Time: 12:00:02
Date: 17 May 2021
Category: Acquisitions and alliances
ID: 7312Y