CCPC opens in-depth investigation into the proposed acquisition of former QuickPark site
August 9, 2023
The Competition and Consumer Protection Commission (CCPC) is to carry out an in-depth (Phase 2) investigation into the proposed acquisition by DAA of a site located on the Swords Road, Santry, Dublin 9 (which was previously operated by a third party as a carpark under the QuickPark brand).
Under competition law, the CCPC has a duty to assess mergers and acquisitions notified to it. The objective of examining notified mergers and acquisitions is to prevent harmful effects on competition. In doing so, the CCPC analyses the potential impact of mergers and acquisitions on consumers, such as changes to price, consumer choice, quality and innovation.
This proposed transaction (M/23/011) was notified to the CCPC in March 2023. Following a preliminary (Phase 1) examination, the CCPC has determined that an in-depth investigation is required to establish whether the proposed transaction will or will not result in a substantial lessening of competition in the State.
To date the CCPC has received a number of third party submissions and any stakeholders that wish to make a further submission for consideration in the CCPC’s investigation can do so by email to mergers@ccpc.ie by 4:30pm on 30 August 2023.
As with all notified mergers and acquisitions, the CCPC is working to complete its investigation in a timely manner and within the statutory deadlines. Whilst the proposed transaction cannot be implemented until a determination is made, the CCPC’s merger review process has not prevented either party from operating a carparking business.
As the investigation is ongoing, the CCPC is unable to share any further information beyond what is included here.
Background information
CCPC’s merger review process
While the vast majority of mergers and acquisitions raise no concerns, some mergers and acquisitions can reduce competition in a market, for example by creating or strengthening a dominant player. This is likely to harm consumers through higher prices, reduced choice or less innovation.
The work undertaken during a merger investigation varies; however, it may include in-depth economic analyses of the affected market(s) or segments, market research and consultations with suppliers, customers and competitors of merging parties.
More details on the review process are set out in the guidelines and procedures in mergers.
Phase 2 merger investigations
If, after the Phase 1 investigation, the CCPC is unable to conclude that the proposed transaction will not lead to a substantial lessening of competition in any market for goods or services in the State, a Phase 2 investigation will be opened.
During its Phase 2 investigation, the CCPC continues to gather evidence from the parties involved in the proposed transaction and other third parties and deepens its analysis of the likely effects of a proposed transaction on competition.
In accordance with the CCPC’s mergers and acquisitions procedures, where the CCPC forms the preliminary view that a proposed transaction will likely result in a substantial lessening of competition in markets for goods or services in the State, it will formally put this view to the parties involved in the proposed transaction in the form of its ‘Assessment’. The parties may then respond to the Assessment and/or make oral submissions to the CCPC.
The CCPC’s deadline to make a Phase 2 determination is 120 working days from the date the proposed transaction was notified or, where a requirement for information has been issued to any of the parties involved in Phase 1, the date where all the required information has been provided to the CCPC. Where any of the parties involved submit proposals to ameliorate any effects of the merger or acquisition on competition to the CCPC this deadline is extended by 15 working days.
During Phase 2, this timeline may be paused if the CCPC issues a requirement for information to any of the parties involved in the merger and resumes when all the required information has been provided to the CCPC.
Within this deadline, the CCPC must determine whether to clear the proposed transaction (with or without conditions) or to prohibit it.
Transaction details
DAA is a commercial semi-State body whose principal activities involve the operation and management of Dublin and Cork airports. DAA is seeking permission to purchase a site located on R132 Swords Road, Santry, Dublin 9 on which a car park was operated under the ‘QuickPark’ brand. The site is currently owned by Mr Gannon and the proposed acquisition would see DAA acquire sole control of the site.
| Transaction Timelines to Date |
|
Notes |
| Notification |
23 March 2023 |
This is the date from which the timelines within which the CCPC must make a determination begin to run. |
| Requirement for Information was issued to DAA |
4 May 2023 |
This pauses and resets the deadline for the CCPC to make a determination. |
| Required information received from DAA and requirement for information complied with. |
29 June 2023 |
This is the new date from which the timelines within which the CCPC must make a determination in Phase 1 (30 working days) and Phase 2 (120 working days total) begin to run. |
| Phase 1 determination* |
9 August 2023 |
|
* The CCPC will publish its decision to move to a full investigation in a ‘Phase 1 determination document’, on ccpc.ie within 60 working days of that decision.
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