1. News
December 9, 2020

UK CMA launches investigation into Bellis’ acquisition of Asda Group

UK regulator Competition and Markets Authority (CMA) has launched Phase 1 investigation into Bellis Acquisition Company 3 Limited's proposed purchase of Walmart’s UK business Asda Group.

UK regulator Competition and Markets Authority (CMA) has launched Phase 1 investigation into Bellis Acquisition Company 3 Limited’s proposed purchase of Walmart’s UK business Asda Group.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
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The probe into the deal follows a decision by the European Commission (EC) to refer the case to the UK.

It also follows a request made by the merging parties under Article 4(4) of the EC Merger Regulation.

The CMA will investigate whether the merger could impact competition in the UK. It invited any interested party to submit their comments by 22 December.

The watchdog will have to declare its decision on 18 February.

Blackburn-based petrol station billionaires Mohsin and Zuber Issa and TDR Capital formed a takeover vehicle called Bellis Acquisition Company for the £6.8bn deal.

Issa brothers’ EG Group has nearly 6,000 petrol stations in the UK and across Europe.

BBC quoted a spokesperson for the Issa brothers and TDR Capital as saying: “As we expected, the CMA have launched a phase one investigation into the acquisition of Asda following a referral from the European Commission.

“We are looking forward to working constructively with the CMA to address any questions they may have.”

Last month, Walmart divested its Argentinian business to Latin American firm Grupo de Narváez for an undisclosed amount.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.