LONDON (Alliance News) - The UK's competition watchdog said Tuesday it is considering whether John Menzies PLC's proposed acquisition of US-based commercial aviation services company ASIG Holdings from BBA Aviation PLC would result in a lessening of competition in the sector.
The Competition and Markets Authority said it is inviting comment from interested parties as it considers if the deal is a relevant merger to be investigated, and if so, whether it will result in a "substantial lessening" of competition.
John Menzies said in September it has agreed to purchase ASIG for GBP202.0 million in cash. Florida-based ASIG is one of the largest independent providers of commercial airline services in the world, with operations across seven countries.
Shares in John Menzies were up 0.8% at 499.75 pence Tuesday, while shares in BBA Aviation were up 0.7% at 258.20p.
By Adam Clark; adamclark@alliancenews.com
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