Jurisdiction(s):
United Kingdom

Key definition

Abandonment definition

What does Abandonment mean? Abandonment describes, in pensions practice, steps by an employer to sever or materially reduce its ongoing support for an occupational pension scheme—typically a defined benefit (DB) scheme—so the scheme becomes effectively independent of its sponsor (for example, by removing or replacing the statutory employer with a weak vehicle, leaving no meaningful employer covenant). The term is not defined in legislation or case law; it is a descriptive expression used in regulatory guidance and practitioner discourse. Across England & Wales, Scotland and Northern Ireland, such activity engages The Pensions Regulator’s anti-avoidance regime and may warrant seeking clearance. TPR can issue...

UK CMA merger investigation: Clariant’s proposed acquisition of Kilfrost’s European aircraft and rail de-icing fluid business abandoned following provisional SLC findings (2015–2016)

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED –this archived case hub reflects the position at the date of the Abandonment of the transaction on 13 June 2016; it is no longer maintained. See further, timeline and commentary.

Case facts

Outline UK merger review of Clariant’s intended purchase of the Kilfrost Group’s European aircraft de-icing fluid and rail de-icing fluid business. The deal presented a horizontal overlap in the supply of aircraft de-/anti-icing fluids.

Latest developments

On 13 June 2016, the CMA stated the investigation was cancelled after the parties chose to abandon the deal. On 10 June 2016, the parties had announced their decision to withdraw following the CMA’s provisional findings and the expectation that the transaction would have been prohibited.

Parties

Clariant AG: a Swiss-based speciality chemicals company, headquartered near Basle, operating in 150 countries worldwide.
Kilfrost plc: a UK-based firm in Newcastle specialising in heating and cooling products. The target business is Kilfrost’s European aircraft de-icing fluid and rail de-icing fluid operations. Kilfrost’s remaining speciality fluids business is not included in the transaction.

Background

Under the transaction, agreed and...

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Web page updated on 22/05/2026

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