{"id":47712,"date":"2024-03-14T12:31:09","date_gmt":"2024-03-14T12:31:09","guid":{"rendered":"https:\/\/www.ccpc.ie\/business\/?p=47712"},"modified":"2024-03-14T12:34:29","modified_gmt":"2024-03-14T12:34:29","slug":"ccpc-opens-in-depth-investigation-into-kilsarans-proposed-acquisition-of-certain-assets-of-kilmurray-precast-concrete","status":"publish","type":"post","link":"https:\/\/ccpc.inventise.ie\/business\/ccpc-opens-in-depth-investigation-into-kilsarans-proposed-acquisition-of-certain-assets-of-kilmurray-precast-concrete\/","title":{"rendered":"CCPC opens in-depth investigation into Kilsaran\u2019s proposed acquisition of certain assets of Kilmurray Precast Concrete"},"content":{"rendered":"

The Competition and Consumer Protection Commission (CCPC) is to carry out an in-depth (Phase 2) investigation into the proposed acquisition by Kilsaran Concrete Unlimited Company (Kilsaran) of certain assets of Kilmurray Precast Concrete Limited (Kilmurray).<\/p>\n

Under competition law, the CCPC has a duty to assess mergers and acquisitions notified to it. The objective of examining notified mergers and acquisitions is to prevent harmful effects on competition. In doing so, the CCPC analyses the potential impact of mergers and acquisitions on consumers, such as changes to price, consumer choice, quality and innovation.<\/p>\n

Kilsaran forms part of the Kilsaran group of companies. The Kilsaran Group manufactures and supplies aggregates, ready-mix concrete, concrete blocks and other base building materials. The Kilsaran Group also undertakes surfacing contracts for road construction, building and civil engineering works.<\/p>\n

Kilmurray owns and operates a single sand and gravel pit in Derryarkin, Rhode, Co. Offaly, from which it extracts and processes primary aggregates. Kilsaran proposes to acquire certain assets from Kilmurray, namely Kilmurray\u2019s sand and gravel pit at Derryarkin, Rhode, Co. Offaly, fixed assets, a chip processing plant, stock, vehicles, plant, supply and sale contracts, interest in leased assets, goodwill, and two small freehold properties.<\/p>\n

This proposed transaction (M\/23\/060)<\/a> was notified to the CCPC in November 2023. Following a preliminary (Phase 1) examination, the CCPC has determined that an in-depth investigation is required to establish whether the proposed transaction will or will not result in a substantial lessening of competition in the State.<\/p>\n

To date the CCPC has received one third party submission and any stakeholders that wish to make a further submission for consideration in the CCPC\u2019s investigation can do so by email to\u202fmergers@ccpc.ie<\/a>\u202fby 4:30pm on 27 March 2024.<\/p>\n

As the investigation is ongoing, the CCPC is unable to share any further information beyond what is included here.<\/p>\n

Background information<\/strong><\/p>\n

CCPC\u2019s merger review process<\/h2>\n

While the vast majority of mergers and acquisitions raise no concerns, some mergers and acquisitions can reduce competition in a market, for example by creating or strengthening a dominant player. This is likely to harm consumers through higher prices, reduced choice or less innovation.<\/p>\n

The work undertaken during a merger investigation varies; however, it may include in-depth economic analyses of the affected market(s) or segments, market research and consultations with suppliers, customers and competitors of merging parties.<\/p>\n

More details on the merger review process are set out in the guidelines and procedures set out at this link – Mergers – CCPC Business<\/a><\/p>\n

Phase 2 merger investigations<\/h2>\n

If, after the Phase 1 investigation, the CCPC is unable to conclude that the proposed transaction will not lead to a substantial lessening of competition in any market for goods or services in the State, a Phase 2 investigation will be opened.<\/p>\n

During its Phase 2 investigation, the CCPC continues to gather evidence from the parties involved in the proposed transaction and other third parties and deepens its analysis of the likely effects of a proposed transaction on competition.<\/p>\n

In accordance with the CCPC\u2019s mergers and acquisitions procedures, where the CCPC forms the preliminary view that a proposed transaction will likely result in a substantial lessening of competition in markets for goods or services in the State, it will formally put this view to the parties involved in the proposed transaction in the form of its \u2018Assessment\u2019. The parties may then respond to the Assessment and\/or make oral submissions to the CCPC.<\/p>\n

The CCPC\u2019s deadline to make a Phase 2 determination is 120 working days from the date the proposed transaction was notified or, where a requirement for information has been issued to any of the parties involved in Phase 1, the date where all the required information has been provided to the CCPC. Where any of the parties involved submit proposals to the CCPC to ameliorate any effects of the merger or acquisition on competition, this deadline is extended by 15 working days.<\/p>\n

During Phase 2, this timeline may be paused if the CCPC issues a requirement for information to any of the parties involved in the merger and resumes when all the required information has been provided to the CCPC.<\/p>\n

Within this deadline, the CCPC must determine whether to clear the proposed transaction (with or without conditions) or to prohibit it.<\/p>\n\n\n\n\n\n\n\n
Transaction <\/span>T<\/span>imelines to <\/span>D<\/span>ate<\/span><\/span>\u00a0<\/span><\/td>\n<\/td>\nNotes<\/span><\/span>\u00a0<\/span><\/td>\n<\/tr>\n
Notification<\/span><\/span><\/td>\n15 November <\/span>\u00a0<\/span>2023<\/span><\/span>\u00a0<\/span><\/td>\nThis is the date from which the timelines<\/span>,<\/span> within which the CCPC must <\/span>make a<\/span> determination<\/span>,<\/span> begin to run.<\/span><\/span>\u00a0<\/span><\/td>\n<\/tr>\n
Requirement<\/span> for Information was issued<\/span> to <\/span>parties<\/span><\/span>\u00a0<\/span><\/td>\n21 December 2023<\/span><\/span>\u00a0<\/span><\/td>\nThis pauses<\/span> and resets the deadline for the CCPC to <\/span>make a determination<\/span>.<\/span><\/span>\u00a0<\/span><\/td>\n<\/tr>\n
Required Information received<\/span> from <\/span>parties<\/span> and <\/span>requirement for information <\/span>complied with<\/span>.<\/span><\/span>\u00a0<\/span><\/td>\n1 February 2024<\/span><\/span>\u00a0<\/span><\/td>\nThis is the new date from which the<\/span> timelines within which the CCPC must <\/span>make a determination<\/span> in Phase 1 (30 working days) and Phase 2 (120 working days total)<\/span> begin to run<\/span>.<\/span><\/span>\u00a0<\/span><\/td>\n<\/tr>\n
Phase 1 Determination*\u00a0<\/span><\/span>\u00a0<\/span><\/td>\n12 March<\/span><\/span>\u00a0<\/span>202<\/span>4<\/span> <\/span>\u00a0<\/span><\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

* <\/span>The CCPC will publish its <\/span>decision to move<\/span> to a full investigation in a \u2018Phase 1 determination document\u2019, on ccpc.ie within 60 working days<\/span> of that decision<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Competition and Consumer Protection Commission (CCPC) is to carry out an in-depth (Phase 2) investigation into the proposed acquisition by Kilsaran Concrete Unlimited …<\/p>\n","protected":false},"author":217,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-47712","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"\nCCPC opens in-depth investigation into Kilsaran\u2019s proposed acquisition of certain assets of Kilmurray Precast Concrete - 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