Proposed acquisition of The Perpetuus Group (Perpetuus Energy Limited, Perpetuus Advanced Materials plc and Perpetuus Carbon Technologies Limited) by Taurus International Ltd and others: public interest intervention notice
Notice relating to the proposed acquisition of The Perpetuus Group (Perpetuus Energy Limited, Perpetuus Advanced Materials plc and Perpetuus Carbon Technologies Limited) by Taurus International Ltd and others.
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The Perpetuus Group (Perpetuus Energy Limited, Perpetuus Advanced Materials plc and Perpetuus Carbon Technologies Ltd) and Taurus International Ltd and others are understood to be considering a merger.
Under the Enterprise Act 2002, the Secretary of State for Business, Energy and Industrial Strategy has the power to intervene in mergers on public interest grounds relating to national security. This responsibility is discharged in a quasi-judicial capacity, which means that the Secretary of State must act, and be seen to act, in a scrupulously fair and impartial manner.
On 5 September 2021, acting on official advice, the Secretary of State issued a public interest intervention notice to intervene in the proposed transaction on national security grounds.
The Competition and Markets Authority (CMA) will prepare a report on the proposed transaction. The CMA has until midnight at the end of 7 February 2022 to complete and submit this report to the Secretary of State.
See the related news story.