4th Aug 2006 13:05
Pendragon PLC04 August 2006 FOR IMMEDIATE RELEASE 4 AUGUST 2006 PENDRAGON PLC ("PENDRAGON") ACQUISITION OF REG VARDY PLC ("REG VARDY") Statement by the Office of Fair Trading The Board of Pendragon welcomes the decision announced today by the OFT not torefer the acquisition of Reg Vardy to the Competition Commission provided thatsatisfactory undertakings are given under section 73 of the Enterprise Act 2002. Pendragon will now work closely with the OFT to reach agreement on appropriateundertakings to address the concerns of the OFT relating to the prospect of thesubstantial lessening of competition in relation to the servicing of cars lessthan three years old in four local areas. The areas of concern under discussion are made up of the following dealerships:Vauxhall in Castleford, Leeds and Wakefield, Vauxhall in Airdrie, East Kilbrideand Motherwell, Vauxhall in Hartlepool and Land Rover in Northamptonshire. A further announcement will be made when appropriate. ENQUIRIES Pendragon PLCTrevor Finn, Chief ExecutiveDavid Forsyth, Finance DirectorTelephone: 01623 725114 Finsbury Group(Public relations adviser to Pendragon)Rupert YoungerGordon SimpsonTelephone: 020 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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