The Competition and Consumer Protection Commission has decided to carry out a full phase two investigation in relation to the proposed purchase of Greenstar by Sretraw, which owns the Panda waste companies.
Following a preliminary investigation, the commission determined that a full investigation was required to see whether the deal would “substantially lessen competiton.”
Under the proposed deal, PandaGreen Limited, a wholly-owned subsidiary of Sretaw, incorporated for the purpose of the deal, would acquire the entire issued share capital of Starrus Eco GHoldings Limited, trading as Greenstar.
Another wholly-owned subsidiary of Sretaw, trading as Panda Waste, is involved in the waste management sector in Counties Dublin, Kildare, Meath and Wicklow. Greenstar is also involved in the waste management sector in these counties and elsewhere.
The companies have been informed of the decision. The commission has until 27th September, 2016 to make a final decision on the proposed transaction, but may conclude its investigation in advance of this date.
The deadline may, however, change as the commission can decide to issue a Requirement for Information (RFI). A RFI must be issued within 30 working days after the decision to carry out a full phase two investigation.
Interested parties are invited to make submissions to the commission no later than 5pm on Friday 24th June, 2016.