Last Sunday, the Competition and Markets Authority (CMA) was asked by the Government to conduct “an urgent review of competition in the fuel market“, a request driven by rapidly increasing fuel prices and the seeming lack of any benefit to car owners of the Government’s VAT cut on fuel. The 7 July deadline for the…
Aldwych Partners’ Andrew Taylor has been discussing the Competition and Markets Authority review of the Asda-EuroGarages deal in The Times. He said that the deal would require only between ten to fifteen forecourt disposals if the CMA looked at overlapping sites in a ten-minute radius. However, he added that the number could be significantly higher…
Aldwych Partners’ co-founder Andrew Taylor has written a piece for Private Equity News discussing how the CMA review of TDR’s purchase of Asda could slow down its integration plans for the supermarket. The article looks at previous TDR deals that the CMA has intervened in, noting that all of these went through but “each time required…
Our Co-founder Andrew Taylor has appeared twice in the Telegraph last week commenting on Walmart’s sale of Asda to billionaire brothers Moshin and Zuber Issa. The first article on 28 September reports generally on the sale and the second article, published the next day, comments on the likelihood of the deal attracting the attention of…
In the past decade, PE-backed groups have expanded significantly in UK petrol station forecourts. Private equity’s share of UK petrol stations has nearly trebled from around 7% to almost 20%. Much of this growth has come from the oil majors, whose share of UK petrol stations has almost halved from nearly 30% to about 15%….
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Buy-and-Build Strategies: Managing the risk of UK Competition and Markets Authority intervention
This paper draws on our experience as former competition regulators, and our research on buy-and-builds, to identify opportunities that can mitigate the risk of CMA intervention for these platforms.
It contains practical advice around:
- The likelihood of deals being called-in by the CMA
- Influencing the CMA’s view of a market
- How to best engage with the CMA
- Drivers of CMA review costs
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