Bristol Water PLC CMA provisionally accepts undertakings (9995X)

TIDMBWRA

RNS Number : 9995X

Bristol Water PLC

10 January 2022

Bristol Water plc

RNS Announcement

CMA provisionally accepts proposed undertakings in relation to the acquisition of Bristol Water plc by Pennon Group PLC

Following the acquisition by Pennon Group PLC (Pennon) of Bristol Water plc (Bristol Water) on 3 June 2021 (the Acquisition), the Competition and Markets Authority (CMA), with input from the Water Services Regulation Authority (Ofwat) commenced an investigation into the Acquisition, as required pursuant to the Water Industry Act 1991.

On 22 December 2021 the CMA confirmed its intention to pursue a Phase 2 merger review unless undertakings it considered to be acceptable were put forward by Pennon. The CMA has today announced that it considers there are reasonable grounds to believe that the undertakings offered by Pennon on 31 December 2021 might be accepted by the CMA under the Water Industry Act 1991. Should undertakings be accepted by the CMA, this would enable the merger with Bristol Water to be cleared without reference to a Phase 2 merger review.

In line with standard procedure, the CMA has confirmed that it will launch a consultation on the undertakings put forward by Pennon, which is expected to conclude by 7 March 2022.

Bristol Water plc

Dated: 11 January 2022

 
 For further information contact: 
 
 Mel Karam, Chief Executive Officer 
 Laura Flowerdew, Chief Financial 
  Officer 
 Bristol Water plc 
 Tel 0117 953 6470 
 
 Or contact:                          Bristol Water Corporate Affairs on 0117 953 6470 during office 
                                      hours or 0800 917 8066 at any time.

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January 11, 2022 02:11 ET (07:11 GMT)

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