The Competition and Consumer Protection Commission has stalled Q-Park’s proposed takeover of Park Rite due to competition concerns.

In a statement the CCPC said a full investigation is required in order to establish if the transaction could lead to a substantial lessening of competition.

The CCPC gave no reason for the decision – that will follow in three months’ time.

Q-Park is Dutch multinational was car parking operations across Europe. In Ireland it is an off-street parking infrastructure owner and operator that is active in Cork, Dublin, Galway, Limerick and Wicklow.

Park Rite, owned by Tazbell Services Group, provides car parking management services, on-street parking enforcement services, toll operations services and parking consulting services. It is active in counties Dublin, Galway, Limerick, Kilkenny, and Offaly.

In Association with

Elsewhere, the CCPC has cleared two media takeovers: Bauer Media’s acquisition of RedFM in Cork (notified 16 November), and Formpress Publishing’s acquisition of the Mayo News (notified 18 November).