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Cambian Adult Services Unit Sale To Face In-Depth UK Competition Probe

Wed, 3rd May 2017 13:40

LONDON (Alliance News) - The UK Competition & Markets Authority said Wednesday it will refer Cambian Group PLC's proposed sale of its adult services division to Cygnet Health Care Ltd for a phase 2 investigation, after receiving no undertaking to lessen the potential impact of the merger.

Health services firm Cambian Group formally completed the sale in late December after securing shareholder approval. The original deal was struck earlier that month, with Cygnet, a subsidiary of the US's Universal Health Services Inc, paying GBP377 million for the business.

The CMA said that after its initial examination of the deal raised concerns, Cygnet has offered no additional undertakings so it will be referred to a more in-depth investigation.

Shares in Cambian were up 0.2% at 161.50 pence Wednesday.

By Adam Clark;

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