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Update on the purchase of Bennetts - September 2020
The Ardonagh Group (“the Group”) announces that, further to the announcement on 17 February 2020 and 7 August 2020 confirming that Atlanta Investment Holdings C Limited, a subsidiary of Ardonagh, has completed the purchase of Bennetts Motorcycling Services Limited (“the Company” or “Bennetts”), and on Friday 7 August 2020 the CMA (as customary) imposed an Initial Enforcement Order (“IEO”), also known as a ‘hold-separate’ order on Ardonagh Group Limited and Bennetts Motorcycling Services Limited (www.gov.uk/cma-cases/ardonagh-group-bennetts-motorcycling-services-merger-inquiry).
As announced by the UK Competition and Markets Authority (CMA), the CMA has launched an investigation into the proposed acquisition by Ardonagh of Bennetts and effective as of Friday 7 August 2020 the CMA has imposed the IEO. The overriding purpose of the IEO is to ensure that Ardonagh and Bennetts are held separate during the course of the CMA’s merger investigation and that the competitive structure of the markets in which Ardonagh and Bennetts operate is maintained. As such, Ardonagh and Bennetts are prevented from sharing information except where strictly necessary in the ordinary course of business, integrating or conducting any joint negotiations (or negotiations on behalf of the other party) or discussions with potential or existing customers and suppliers, among other things, until the CMA has completed its review of the transaction and the IEO ceases to apply. We will inform you once the CMA has completed its review, but until then, please continue to liaise with your usual contacts at Ardonagh or Bennetts, respectively, but being mindful that the two business are operating separately under the terms of the IEO. Further announcements on the progress of the IEO will be made in due course.
Autonet Protect Plus insurance (includes legal, hire and breakdown)
Autonet Protect Plus insurance is a unique brand offering that is able to boast an impressive one stop motoring solution for you. Not only will you benefit from a comprehensive insurance policy, your policy will also include; Motor Legal expenses insurance, Guaranteed Hire vehicle insurance (van insurance only), windscreen cover and Breakdown cover with Homestart in the UK.
Benefits of an Autonet Protect Plus insurance policy:
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/// 24/7 claims helpline
/// Windscreen cover
/// A trusted brand with over 17 years' experience