Update on the purchase of Bennetts - September 2020
The Ardonagh Group (“the Group”) announces that, further to the announcement on 17 February 2020 and 7 August 2020 confirming that Atlanta Investment Holdings C Limited, a subsidiary of Ardonagh, has completed the purchase of Bennetts Motorcycling Services Limited (“the Company” or “Bennetts”), and on Friday 7 August 2020 the CMA (as customary) imposed an Initial Enforcement Order (“IEO”), also known as a ‘hold-separate’ order on Ardonagh Group Limited and Bennetts Motorcycling Services Limited (www.gov.uk/cma-cases/ardonagh-group-bennetts-motorcycling-services-merger-inquiry).
As announced by the UK Competition and Markets Authority (CMA), the CMA has launched an investigation into the proposed acquisition by Ardonagh of Bennetts and effective as of Friday 7 August 2020 the CMA has imposed the IEO. The overriding purpose of the IEO is to ensure that Ardonagh and Bennetts are held separate during the course of the CMA’s merger investigation and that the competitive structure of the markets in which Ardonagh and Bennetts operate is maintained. As such, Ardonagh and Bennetts are prevented from sharing information except where strictly necessary in the ordinary course of business, integrating or conducting any joint negotiations (or negotiations on behalf of the other party) or discussions with potential or existing customers and suppliers, among other things, until the CMA has completed its review of the transaction and the IEO ceases to apply. We will inform you once the CMA has completed its review, but until then, please continue to liaise with your usual contacts at Ardonagh or Bennetts, respectively, but being mindful that the two business are operating separately under the terms of the IEO. Further announcements on the progress of the IEO will be made in due course.
Autonet Law is a company of personal injury claims solicitors providing help to people who have been involved in road traffic accidents. At the forefront of every case, our clients well-being is our number one priority. We know how stressful it can be being involved in an accident, and that’s why we are here to help.
Our team of specialist solicitors and claims handlers have many years’ experience dealing with personal injury claims and will provide you with simple, jargon free guidance each and every step of the way. We understand the legalities associated with personal injury claims can be rather daunting. That’s why we have set procedures in place to ensure we have our client’s best interests at heart. You can rest assured that we are here to help, and your case will ALWAYS be in secure hands.
No matter what circumstances are surrounding your claim (or the severity), Autonet Law will assess the situation and provide you with clear, sound, professional advice on how to act throughout the duration of the case. In every incident we aim to get our clients back to a suitable financial position, and where applicable, compensated for any injury or stress that has been caused.
If you would like any further information on our services please call us on 01142 201 968 and one of our experienced claims handlers will talk you through any queries you may have.