The Competition and Markets Authority (CMA) has referred Constellation Developments Limited’s proposed acquisition of ABVR Holdings Limited, which trades as Aston Barclay, for a Phase 2 investigation following concerns that the deal could lessen competition in the UK’s business-to-business used vehicle auction market.
Constellation, through its British Car Auctions (BCA) division, operates the largest B2B used vehicle auction network in Great Britain, while Aston Barclay is the third largest supplier. Both businesses serve similar customer groups and run large-scale auction operations across multiple regions.
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Constellation also owns We Buy Any Car, a major player in the European used car market.
The CMA said the merger “significantly increases” Constellation’s position in the market, noting that aside from one other major supplier, “remaining competitors are small and have limited geographic coverage.”
Following its Phase 1 review, the authority expressed concern that the transaction could reduce competition, potentially leading to “higher prices or reduced choice” for trade customers using auction services, with possible knock-on effects for consumer pricing in the used car market.
Constellation did not propose any undertakings to address these concerns. The CMA has therefore referred the merger to a Phase 2 inquiry, which will be conducted by an independent panel of experts.
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By GlobalData
