The CCPC will publish its Phase 1 determination no later than 60 working days after the date of the determination
AIB will acquire certain assets of Ulster Bank. (Credit: Eric Jones/Wikipedia.)
The Competition and Consumer Protection Commission (CCPC) has decided to carry out a full Phase 2 investigation into the proposed acquisition by Allied Irish Banks, p.l.c., of certain assets, consisting of a portfolio of performing commercial loans, of Ulster Bank Ireland DAC.
Following an extended preliminary investigation, the CCPC has determined that a full investigation is required in order to establish if the proposed transaction could lead to a substantial lessening of competition in the State. The CCPC will publish its Phase 1 determination no later than 60 working days after the date of the determination and after allowing the parties the opportunity to request that confidential information be removed from the published version.
Source: Company Press Release