Last week the CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on FNZ UK, Kiwi Holdco CayCo and FNZ (Australia) Bidco Pty, in relation to the completed acquisition of GBST Holdings Limited by FNZ (Australia) Bidco Pty Ltd.
The enforcement order stated: “The Competition and Markets Authority (CMA) has reasonable grounds for suspecting that it is or may be the case that (i) Kiwi Holdco CayCo, Ltd, including its subsidiary FNZ (Australia) Bidco Pty Ltd and (ii) GBST Holdings Limited (GBST) have ceased to be distinct.
“The CMA is considering, pursuant to section 22 of the Act, whether it is or may be the case that a relevant merger situation has been created and whether the creation of that situation has resulted or may be expected to result in a substantial lessening of competition in any market or markets in the United Kingdom (UK).”
Interested parties were asked to send written representations about any competition or public interest to:
Marc Freedman
Competition and Markets Authority
Victoria House
Southampton Row
London
WC1B 4AD