The UK’s Competition and Markets Authority (CMA) will investigate the acquisition of CWT by Amex GBT following the latter’s voluntary submission of the deal for approval.
Travel News reported on Amex GBT’s US$570 million (R10,7 billion at today’s rate) deal to purchase CWT in March. The transaction is now pending regulatory approval in key markets, including the US, UK, and the EU, as reported by businesstravelnewseurope.com.
“We have voluntarily notified the CMA of the transaction for antitrust approval in the UK. We are working constructively with the CMA as it undertakes this standard merger review process,” said Martin Ferguson, Amex GBT VP of Public Affairs.
As part of Phase 1 of its investigation, the CMA has said it would consider whether the deal would fall “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,” said the watchdog.
The CMA is inviting interested parties to comment on the impact of the Amex GBT-CWT deal. The deadline for submissions is June 18.
