31st Oct 2025 15:06
(Alliance News) - The UK Competition & Markets Authority on Wednesday revoked an initial enforcement order concerning the acquisition of Macquarie Rotorcraft Ltd by SMFL LCI Helicopters Ltd.
The order was issued back in May, when the watchdog announced a formal enquiry into the proposed deal and its potential impact on competitive conditions in the UK. The CMA at the time said it had "reasonable grounds to believe the parties will complete the merger".
The regulator's order was to prevent Macquarie Rotorcraft and its suitor, which is backed by Sumitomo Mitsui Finance & Leasing Co Ltd, from taking action which could prevent competition in any of the markets impacted by the proposed takeover whilst the CMA was investigating the deal.
The prohibition applied not only to the target and the buyer, but also their respective parent companies, Macquarie Group Ltd, Sumitomo Mitsui Financial Group Inc and Sumitomo Corp.
On September 8, the CMA said it had grounds to suspect that Macquarie Rotorcraft and SMFL LCI Helicopters were no longer "distinct" companies. As a result, the order was imposed, and an enforcement period began October 8.
However on Wednesday, the watchdog revoked the order, based on evidence seen so far which suggested it was "appropriate" to do so, according to the CMA. The regulator said it is still investigating the deal, and has not yet reached a decision.
Macquarie Group shares closed 1.3% lower at AUD218.56 on Friday in Sydney. Sumitomo Mitsui Financial Group closed up 0.8% at JPY4,163 per share in Tokyo.
By Holly Munks, Alliance News reporter
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