CMA launches inquiry into Asda’s takeover of Co-op petrol stations
Asda‘s £600 million takeover of Co-op petrol stations is to be the subject of a merger inquiry by the Competition and Markets Authority.
Formally completed last October, the purchase included 129 convenience stores of between 1,500 and 3,000 square feet, with attached petrol stations, and three development sites. Around 2,300 workers currently employed by the Co-op will join Asda under TUPE transfer in the coming months following consultation with USDAW.
The CMA is now considering whether the transaction will result in a “substantial lessening of competition within any market or markets in the United Kingdom for goods or services”. The deadline for the CMA’s phase one decision is 14 March.
A spokesperson for Asda said: “The acquisition of these sites is part of our long-term strategy to build a convenience business and bring Asda’s great value in fuel and groceries to more customers and communities throughout the UK. We referred the acquisition to the CMA when it completed last October and look forward to working collaboratively with them in the coming months.”
