Haynes Publishing Group PLC Signing of Letter of Intent (2591K)

TIDMHYNS

RNS Number : 2591K

Haynes Publishing Group PLC

06 July 2017

6 July 2017

Haynes Publishing Group P.L.C ("Haynes").

Signing of Letter of Intent

Following an investigation, the Competition and Markets Authority ("CMA") has concluded that the acquisition by Solera Holdings Inc ("Solera") of Autodata Publishing Group Limited, announced in January 2017, gives rise to a realistic prospect of a Substantial Lessening of Competition ("SLC") in the supply of automotive Repair and Maintenance Information ("RMI") platforms in the UK.

Today, Haynes announces that it has signed a Letter of Intent with Solera to acquire the E3 Technical business from Carweb, a Solera UK subsidiary, together with support to develop a Vehicle Registration Mark service.

The CMA is considering whether the proposed sale of the E3 Technical business to Haynes will address its concerns over the SLC in the supply of RMI platforms in the UK.

Discussions between the parties are ongoing and there can be no certainty that the proposed transaction will go ahead nor as to the terms of such transaction. Haynes will provide an update in due course.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries:

   Haynes Publishing Group P.L.C.                                                 [phone] 

E Bell, Group Chairman

J Haynes, Chief Executive Officer

   Investor Contact: Panmure Gordon (UK) Limited                    [phone] 

Karri Vuori

Erik Anderson

Will Wickham

   Media Contact: New Century Media                                           [phone] 

Richard Hill

This information is provided by RNS

The company news service from the London Stock Exchange

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July 06, 2017 09:10 ET (13:10 GMT)