For announcement of referral see DTI Press Notice P/2003/115
Completed acquisition by Centrica Plc / Dynegy Storage Ltd and Dynegy
Onshore Processing
Terms of Reference
Whereas it appears to the Secretary of State that it is or may
be the fact that a merger situation qualifying for investigation,
as defined in section 64(8) of the Fair Trading Act 1973 ("the
Act"), has been created in that:
- enterprises carried on by or under the
control of Centrica Plc (a body corporate incorporated in the United
Kingdom) have within the four months preceding the date of this reference
ceased to be distinct from enterprises carried on by or under the
control of Dynegy Inc; and
- the value of the assets taken over exceeds £70 million.
Now, therefore, the Secretary of State, in exercise of her powers
under sections 64 and 69(1) and (2) of the Act, hereby refers to
the Competition Commission ("the Commission"), for investigation
and report within a period ending on 9 June 2003, the following
questions:
- whether a merger situation qualifying
for investigation has been created as a result of the matter described
in paragraph (a) above; and
- if so, whether the creation of that situation operates, or
may be expected to operate, against the public interest.
In relation to the question in paragraph (i) above the
Commission shall exclude from consideration one of paragraphs (a)
and (b) of section 64(1) of the Act if they find the other satisfied.
25 February 2003
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