Britain’s competition regulator on Friday cleared auto parts provider LKQ Corp.’s LKQ-Q deal to buy Canada’s Uni-Select after LKQ agreed to divest Uni-Select’s U.K. business.
The Competition and Markets Authority (CMA) said it considers the divestiture of GSF Car Parts as reasonable, and the Uni-Select deal will not be referred to further investigation.
The $2.8-billion deal, announced in February, is expected to help LKQ tap into the Canadian company’s strong presence in the aftermarket auto-parts business.
Uni-Select distributes industrial coatings and related products in North America, while LKQ sells OEM recycled and aftermarket parts.
The regulator opened its investigation in June as it believed the deal could have raised competition concerns related to supply of car parts and garage equipment to independent garages and workshops in some areas of Britain.