The UK’s Competition and Markets Authority (CMA) has today published an update on their investigation of the completed acquisition by SMFL LCI Helicopters Ltd of Macquarie Rotorcraft Ltd.

The CMA has indicated that it now has sufficient information in relation to the completed acquisition by SMFL LCI Helicopters Ltd of Macquarie Rotorcraft Ltd to enable it to begin an investigation for the purposes of deciding whether to make a reference for a phase 2 investigation.  The investigation begins tomorrow.

Phase 2 investigations are led by an independent panel of experts, and the period during which they run is said to improve the opportunities provided for all businesses affected by a merger to engage with the CMA Inquiry Group overseeing the investigation.

The standard CMA process is time-bound and the deadline for the CMA to announce its decision whether to refer the Merger for a Phase 2 investigation is eight weeks, which takes us to 3 December 2025.