Sika AG / MBCC Group merger inquiry

The CMA is investigating the anticipated acquisition by Sika AG of MBCC Group.

From:
Competition and Markets Authority
Published
21 April 2022
Last updated
11 May 2023 — See all updates
Case type:
Mergers
Case state:
Closed
Market sector:
Building and construction and Chemicals
Outcome:
Mergers - phase 2 clearance with remedies
Opened:
19 April 2022
Closed:
11 May 2023

Phase 2

Administrative timetable

Date of reference: 10 August 2022

Statutory deadline: 24 January 2023

Case closure summary

11 May 2023: The purchase of the Divestment Business by Cinven was approved by the CMA and completed on 2 May 2023. This brings the merger investigation to a close.

Remedy Group appointed

23 February 2023: The CMA has appointed the Remedy Group. Richard Feasey (Chair), Jo Armstrong and Cyrus Mehta.

Final undertakings

21 February 2023: The CMA has accepted final undertakings to remedy the substantial lessening of competition identified in the final report.

Notice of proposal to accept final undertakings

2 February 2023: The CMA gives notice of the proposal to accept final undertakings and is inviting comments by 5pm on 16 February 2023.

Final report

15 December 2022: The CMA has published the summary of its final report.

Interim order

On 25 November 2022 the Competition and Markets Authority (CMA) made an Interim Order (the Order) addressed to MBCC in accordance with section 81 of the Act.

Directions to appoint a monitoring trustee

5 December 2022: The CMA has directed the Parties to appoint a monitoring trustee.

Responses to notice of possible remedies

The responses to the CMA’s notice of possible remedies are below.

Provisional findings

25 October 2022: The CMA has provisionally found competition concerns as part of its in-depth investigation of the anticipated acquisition by Sika AG of MBCC Group.

Issues statement

21 September 2022:The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. The deadline for submissions on the issues statement is 5pm on 5 October 2022.

Inquiry group appointed

15 August 2022: The CMA has appointed the inquiry group. Richard Feasey (Chair), Jo Armstrong and Cyrus Mehta.

Terms of reference

10 August 2022: The CMA has referred the anticipated acquisition by Sika AG of MBCC Group for an in-depth investigation.

Phase 1

Statutory timetable

Date Action
27 July 2022 Decision announced
30 May 2022 Launch of merger inquiry
21 April 2022 to 12 May 2022 Invitation to comment

Reference decision

10 August 2022: The CMA has referred the anticipated acquisition by Sika AG of MBCC Group for an in depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

Reference unless undertakings accepted

27 July 2022: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

Launch of merger inquiry

30 May 2022: The CMA announced the launch of its merger inquiry by notice to the parties.

Invitation to comment: now closed

21 April 2022:The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result 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.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

Contact

general.enquiries@cma.gov.uk

Updates to this page

Published 21 April 2022
Last updated 11 May 2023 + show all updates

  1. Case closed.

  2. Remedy Group appointed.

  3. Final undertakings and notice to accept final undertakings published.

  4. Draft undertakings and Notice of proposal to accept final undertakings published.

  5. Phase 2 final report and appendices published.

  6. Summary of final report published.

  7. Individual response to notice of possible remedies published.

  8. Interim order and directions to appoint a monitoring trustee published.

  9. Responses to notice of possible remedies published.

  10. Full provisional findings, appendix and glossary published.

  11. Parties non-confidential proposed remedy option submission published.

  12. Summary of provisional findings, notice of provisional findings and notice of possible remedies published.

  13. Phase 1 full text decision published.

  14. Full text of phase 1 decision published.

  15. Phase 2 issues statement and administrative timetable published.

  16. Inquiry group appointed, administrative timetable published and update to contact details.

  17. Reference to Phase 2 investigation announced.

  18. Phase 1 decision announced: Reference unless undertakings accepted.

  19. Merger inquiry launched and commencement notice published.

  20. First published.

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