Haynes Publishing Group PLC Signing of Letter of Intent (2591K)
July 06 2017 - 8:10AM
UK Regulatory
TIDMHYNS
RNS Number : 2591K
Haynes Publishing Group PLC
06 July 2017
6 July 2017
Haynes Publishing Group P.L.C ("Haynes").
Signing of Letter of Intent
Following an investigation, the Competition and Markets
Authority ("CMA") has concluded that the acquisition by Solera
Holdings Inc ("Solera") of Autodata Publishing Group Limited,
announced in January 2017, gives rise to a realistic prospect of a
Substantial Lessening of Competition ("SLC") in the supply of
automotive Repair and Maintenance Information ("RMI") platforms in
the UK.
Today, Haynes announces that it has signed a Letter of Intent
with Solera to acquire the E3 Technical business from Carweb, a
Solera UK subsidiary, together with support to develop a Vehicle
Registration Mark service.
The CMA is considering whether the proposed sale of the E3
Technical business to Haynes will address its concerns over the SLC
in the supply of RMI platforms in the UK.
Discussions between the parties are ongoing and there can be no
certainty that the proposed transaction will go ahead nor as to the
terms of such transaction. Haynes will provide an update in due
course.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Haynes Publishing Group P.L.C. +44 1963 442009
E Bell, Group Chairman
J Haynes, Chief Executive Officer
Investor Contact: Panmure Gordon (UK) Limited +44 20 7886 2500
Karri Vuori
Erik Anderson
Will Wickham
Media Contact: New Century Media +44 20 7930 8033
Richard Hill
This information is provided by RNS
The company news service from the London Stock Exchange
END
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