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76/07 18 May 2007
The OFT today referred the anticipated acquisition by G4S Cash Services (UK) Limited of Abbotshurst Group plc (including its subsidiary, Security Plus Limited) to the Competition Commission (CC).
The OFT has decided that the test for reference is met in relation to the supply of cash-in-transit (CIT) services for certain customer groups in the UK and in the Midlands and the North of England where the parties overlap.
Amelia Fletcher, Chief Economist at the OFT, said:
'Our investigation has shown that Security Plus is a highly competitive provider of CIT services for certain customers. The evidence before the OFT supported the significant number of customer concerns that the merger may give rise to higher prices for customers and a reduction in choice and quality of CIT services.'
The CC is expected to report by 1 November 2007.
NOTES
1. The Reference Test - the OFT has a duty to make a reference to the CC if the OFT believes that it is or may be the case that arrangements are in progress or in contemplation which, if carried into effect, will result in the creation of a relevant merger situation; and the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
2. Under the Enterprise Act 2002 a relevant merger situation is created if two or more enterprises have ceased to be distinct enterprises; and the value of the turnover in the United Kingdom of the enterprise being taken over exceeds £70 million; or as a result of the transaction, in relation to the supply of goods or services of any description, a 25 per cent share of supply in the UK (or a substantial part thereof) is created or enhanced.
3. The CC may extend the 24 week period within which it is required to publish its report by no more than eight weeks if it considers that there are special reasons why the report cannot be published within that period.
4. The text of this decision will be published in the mergers section as soon as is reasonably practicable.
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