Proposed acquisition of Northern Aerospace Limited by Gardner Aerospace Holdings Limited: public interest intervention
Notice relating to the proposed acquisition of Northern Aerospace Limited by Gardner Aerospace Holdings Limited.
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On Friday 8 June 2018 Better Capital announced that it had agreed to sell Northern Aerospace Ltd to Gardner Aerospace Holdings Ltd, itself a wholly-owned subsidiary of Shaanxi Ligeance Mineral Resources.
Under the powers set out in the Enterprise Act 2002, the Secretary of State for Business, Energy and Industrial Strategy is able to intervene on national security grounds. This responsibility is discharged in a quasi-judicial capacity.
On Sunday 17 June 2018, the Secretary of State issued a public interest intervention notice, confirming that he is intervening in the sale on national security grounds. In reaching this decision, he considered the representations received from the Secretary of State for Defence.
The Competition and Markets Authority (CMA) will prepare a report on the competition and national security aspects of the proposed transaction. The CMA has until midnight on Friday 13 July 2018 to complete and submit this report to the Secretary of State.
See the related final decision notice and CMA report.