CMA says sale of Grafton's merchanting business raises competition concerns
The Competition and Markets Authority said on Monday that it will refer the sale of Grafton’s merchanting business to Huw Gray for an in-depth investigation if the two parties do not address competition concerns by next week.
Grafton Group Ut (CDI)
29 November 2021 11:07:32
Source: Sharecast
Building materials distributor and DIY retailer Grafton announced in July that it had agreed sell its traditional merchanting business to builders’ merchant Huw Gray in a £520m deal.
Although the sale is not conditional on approval from the CMA, the competition watchdog said it had found that the deal could result in a substantial lessening of competition.
Grafton released a brief statement in which it said the transaction is expected to complete on 28 February 2022.
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