Jurisdiction(s):
United Kingdom

Key definition

Subsidiary definition

What does Subsidiary mean? In legal practice, a subsidiary is a company controlled by another company (its holding company), usually through voting power or the ability to appoint a majority of directors. The term is used in corporate and finance documents to delineate group companies, guarantees, covenants and reporting obligations. In the UK, Companies Act 2006, section 1159, defines subsidiary. A company is a subsidiary if another company: holds a majority of its voting rights; or, being a member, can appoint or remove a majority of its directors; or, being a member, controls a majority of its voting rights by agreement. Two of these tests...

UK CMA Phase 2: Euro Car Parts’ acquisition of Andrew Page assets—substantial lessening of competition in nine local areas; depot divestitures required (archived 2017 decision)

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED

This archived case hub sets out the position as at the decision date of 31 October 2017; it is not updated. For more, see the timeline.

Case facts

UK merger probe into the completed purchase by Euro Car Parts Limited of assets from the Andrew Page business, involving horizontal overlaps in markets supplying car parts to independent garages.

Latest developments

On 4 September 2018, the CMA issued its case closure summary, formally bringing the inquiry to a close.

Parties

Euro Car Parts Ltd (ECP) is the UK Subsidiary of LKQ Corporation (LKQ). LKQ is a major supplier of alternative and speciality components to repair and accessorise automobiles and other vehicles, and it also designs, makes and supplies automotive glass to original equipment manufacturers. It operates in North America, Europe, China and Taiwan.

The Andrew Page business (AP Business) consists of substantially all business assets from Andrew Page Limited, Solid Auto (UK) Limited and Colton Parts Company Limited, comprising 102 branch sites, a national distribution centre and the corporate head office. The AP Business distributed automotive parts and had 109 UK locations. Before the deal, the AP Business had entered...

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Web page updated on 22/05/2026

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