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LONDON - The UK Competition and Markets Authority (CMA) has proposed to close its investigation into Persimmon (LON:PSN) and six other UK housebuilders regarding suspected anti-competitive conduct, according to a press release statement issued on Wednesday.
The CMA has indicated it will accept voluntary commitments from the housebuilders without making any finding that the companies infringed UK competition law.
As part of the proposed settlement, the seven housebuilders under investigation have collectively agreed to make a £100 million ex gratia financial contribution to the government’s Affordable Homes Programme. Persimmon’s share of this contribution amounts to £15.24 million.
Persimmon stated that its decision to offer voluntary commitments does not constitute an admission of wrongdoing, nor does it imply agreement with the concerns expressed by the CMA during the investigation.
The CMA’s investigation, which was opened on February 26, 2024, under Chapter I of the Competition Act 1998, originally included eight housebuilders. Following the Barratt/Redrow merger, the number of companies under investigation was reduced to seven.
Persimmon noted that it has worked constructively with the CMA throughout the inquiry process and remains focused on delivering high-quality, affordable homes while maintaining its standards of customer service.
The proposed closure of the investigation is subject to final confirmation by the CMA.
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