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PRESS RELEASE
 
DETERMINATION OF MERGER APPLICATION: INTERAMERICANA TRADING CORPORATION CAYMAN/SIMPSON MOTORS LIMITED/INCHCAPE INTERNATIONAL HOLDINGS LIMITED
 
The Fair Trading Commission (‘the Commission”) has approved Inchcape International Holdings Limited’s (Inchcape) acquisition of Interamericana Trading Corporation Cayman (I.T.C. Cayman).
 
On receipt of the merger Application in December 2021, the Commission commenced its review of the Application, which sought formal approval for the acquisition of I.T.C. Cayman. This transaction would result in the control of I.T.C. Barbados and Simpson Motors by way of Inchcape purchasing 100% of the shareholding from I.T.C. Cayman’s parent company, the Simpson Group Limited.
 
Following its identification of the relevant product markets in Barbados, the Commission completed a comprehensive competitive analysis which considered the potential impacts of the transaction. Consideration was also given to the number and relative size of the firms in the market and the effect of barriers on new firms seeking to enter each market.
 
Subsequent to this analysis, and pursuant to Section 20(5) of the Fair Competition Act, CAP. 326C, the Commission determined that the merger would not lessen competition in the market for the supply, maintenance and repair of dealer-authorised automotive vehicles, and genuine parts in Barbados.
 
The Commission noted that Inchcape has a widened portfolio of automotive brands, and that some of these brands are already on offer by competing authorised dealers. In this regard, and given the competitive harm that may occur from foreclosures within the market, Inchcape is required to notify the Commission if it plans to introduce any new brands to its portfolio of offerings that are already represented in Barbados.
 
 
 
 
Dated this 16th day of June 2022 
 
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