CMA forces Ardonagh to u-turn on £26m Bennetts buy
Ardonagh has proposed to reverse the deal and divest of the motor broker following the threat of an “expensive and burdensome” phase two competition probe.
The Ardonagh Group (20 September) today confirmed that it has proposed to divest Bennetts Motorcycling Services to address the concerns raised by the Competition and Markets Authority during its review of the recent acquisition.
As part of any deal, Ardonagh would be required to sell Bennetts to a CMA-approved buyer and have a time limit to complete and sale process.
Disappointment
Atlanta CEO Ian Donaldson said: “We are disappointed with the CMA’s Phase 1 findings. Rather than enter into a
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