The UK Court of Appeals brings some additional clarity on assets acquisition (Eurotunnel / SeaFrance)

Asset acquisitions revisited* Earlier this year, I suggested that the law on when an asset acquisition might amount to a merger was somewhat opaque. The Court of Appeal’s decision in Eurotunnel II [2015] EWCA Civ 487 has brought some additional clarity, although the messy procedural history of that case has caused its own problems. A quick re-cap on the background. Cross-channel ferry company SeaFrance went into liquidation in 2011. It could not be sold as a going concern, and there was instead an asset sale. Eurotunnel bought three ferries and various other assets. The OFT (now the CMA) decided to investigate whether the acquisition was a merger.

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  • Blackstone Chambers (London)

Quotation

Tristan Jones, The UK Court of Appeals brings some additional clarity on assets acquisition (Eurotunnel / SeaFrance), 15 May 2015, e-Competitions Bulletin Transport (rail), Art. N° 75448

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