6 Jul 2017 14:10
6 July 2017Â
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Haynes Publishing Group P.L.C ("Haynes").
Signing of Letter of Intent
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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.
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Enquiries:
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Haynes Publishing Group P.L.C. +44 1963 442009
E Bell, Group Chairman
J Haynes, Chief Executive Officer
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Investor Contact: Panmure Gordon (UK) Limited +44 20 7886 2500
Karri Vuori
Erik Anderson
Will Wickham
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Media Contact: New Century Media +44 20 7930 8033
Richard Hill