Diebold / Wincor Nixdorf merger inquiry

The CMA investigated the completed acquisition by Diebold, Incorporated of Wincor Nixdorf AG.

• From: Competition and Markets Authority
• Published: 24 June 2016
• Last updated: 29 June 2017 — See all updates

• Case type: Mergers
• Case state: Closed
• Market sector: Financial services
• Outcome: Mergers - phase 2 clearance with remedies
• Opened: 24 June 2016
• Closed: 29 June 2017

Phase 2

Administrative timetable

Date of referral: 30.8.16

Statutory deadline: 10.4.17

• Full administrative timetable (updated 25.1.17)
• Notice of extension (25.1.17)

Contact

[email protected]

Sale to Cennox completes Diebold remedy

29 June 2017: Diebold Nixdorf has completed the sale of Diebold’s customer-operated cashpoint business in the UK to Cennox, a purchaser approved by the CMA.

• News story: Diebold sale resolves CMA concerns over cashpoint merger (29.6.17)

Remedy group appointed

13 June 2017: The CMA has appointed the following panel group members to the Diebold / Wincor remedy group:

Martin Cave (Inquiry Chair), Sarah Chambers and Bob Spedding.

Final undertakings

10 May 2017: The CMA has accepted undertakings from Diebold to remedy the substantial lessening of competition identified in the final report.

• Final undertakings (10.5.17)

Amendments/consents granted:

• Derogation 13 June 2017 (29.6.17)

Notice of proposal to accept final undertakings

• Notice of proposal to accept final undertakings (28.3.17)

Final report

• Final report (16.3.17)
• Appendices and glossary (16.3.17)
• Press release: CMA orders Diebold Nixdorf to sell one of UK cashpoint businesses (16.3.17)

Provisional findings

20 December 2016: The CMA has provisionally found that Diebold’s acquisition of Wincor may reduce competition in the supply of customer-operated cashpoints in the UK.

• Provisional findings report (PDF, 1.2 Mb) (21.12.16)
• Appendices and glossary (PDF, 1.2 Mb) (21.12.16)
• Summary of provisional findings (20.12.16)
• Notice of provisional findings (20.12.16)
• Notice of possible remedies (20.12.16)
• Press release: CMA finds competition concerns with cashpoint merger (20.12.16)

Evidence

The publication of the evidence of any party on the CMA’s webpages does not indicate in any way endorsement by the CMA of the views expressed in the evidence or acceptance of that evidence. Publication in this way is designed to assist public understanding of the issues.

Responses to provisional findings and notice of possible remedies

• Diebold and Wincor (1.3.17)
• Barclays (1.3.17)
• Cardtronics (1.3.17)
• GRGI (1.3.17)
• Lloyds Banking Group (1.3.17)

Additional submission

• Diebold/Wincor Nixdorf (2.11.16)

Hearing summaries

• Cardtronics (7.11.16)
• NCR (2.11.16)
• GRGI (2.11.16)
• Cennox (2.11.16)

Summaries of phase 1 calls

• Note of phase 1 call with Auriga (26.10.16)
• Note of phase 1 call with GRGI (26.10.16)
• Note of phase 1 call with Fujitsu (26.10.16)
• Note of phase 1 call with HSBC (26.10.16)
• Note of phase 1 call with Hyosung (26.10.16)
• Note of phase 1 call with Barclays (20.10.16)
• Note of phase 1 call with Cardtronics (20.10.16)
• Note of phase 1 call with Glory (20.10.16)
• Note of phase 1 call with Nationwide (20.10.16)
• Note of phase 1 call with RBS (20.10.16)

Initial submissions

• Diebold/Wincor Nixdorf (4.10.16)
• NCR (4.10.16)

Issues statement

27 September 2016: The issues statement sets out the scope of the investigation. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions.

• Issues statement

Inquiry group appointed

The CMA appointed the inquiry group on 30 August 2016.

Martin Cave (Inquiry Chair), Bob Spedding, Roger Finbow and Sarah Chambers.

Terms of reference

30 August 2016: The CMA has referred the completed acquisition by Diebold, Incorporated of Wincor Nixdorf AG.

• Terms of reference (30.8.16)

Phase 1

Phase 1 date	Action
27 September 2016	Decision published
19 August 2016	Decision announced
15 August 2016	Initial enforcement order
24 June to 8 July 2016	Invitation to comment
24 June 2016	Launch of merger inquiry

Reference decision

• News story: CMA refers cashpoint merger for in-depth investigation (30.8.16)
• Reference decision (30.8.16)

Reference unless undertakings accepted

• Full text decision (27.9.16)

• Press release: Cashpoint merger faces in-depth investigation (19.8.16)

Initial enforcement order

16 August 2016: On 15 August 2016, the CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Diebold, Incorporated (Diebold) and Diebold International Limited (Diebold International) in relation to its completed acquisition of Wincor Nixdorf AG.

• Initial enforcement order (16.8.16)

Amendments/consents granted:

• Derogation 31 March 2017 (6.4.17)
• Derogation 21 February 2017 (3.3.17)
• Derogation 2 February 2017 (9.2.17)
• Derogation 6 January 2017 (19.1.17)
• Derogation 5 December 2016 (29.12.16)
• Derogation 5 December 2016 (29.12.16)
• Derogation 11 November 2016 (17.11.16)
• Derogation 16 September 2016 (30.9.16)
• Derogation 30 August 2016 (5.9.16)
• Derogation 17 August 2016 (18.8.16)
• Derogation 15 August 2016 (16.8.16)

Launch of merger inquiry

24 June 2016: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement of initial period notice (24.6.16)

Published 24 June 2016
Last updated 29 June 2017 + show all updates

1. 29 June 2017

   Sale of Diebold’s customer-operated cashpoint business announcement added and derogation to final undertakings published.

2. 13 June 2017

   Remedy group appointments added.

3. 10 May 2017

   Final undertakings published.

4. 6 April 2017

   Derogation published.

5. 28 March 2017

   Notice of proposal to accept undertakings published.

6. 16 March 2017

   Final report published.

7. 3 March 2017

   Derogation published.

8. 1 March 2017

   Responses to provisional findings and notice of possible remedies published.

9. 9 February 2017

   Derogation published.

10. 25 January 2017

    Timetable updated and notice of extension published.

11. 19 January 2017

    Derogation published.

12. 29 December 2016

    Derogations published.

13. 21 December 2016

    Full provisional findings report published.

14. 20 December 2016

    Summary of provisional findings and notice of possible remedies published.

15. 17 November 2016

    Derogation published.

16. 7 November 2016

    Hearing summary published.

17. 2 November 2016

    Hearing summaries and additional submission published.

18. 26 October 2016

    Summaries of calls published.

19. 20 October 2016

    Summaries of calls published.

20. 4 October 2016

    Initial submissions published.

21. 30 September 2016

    Derogation published.

22. 27 September 2016

    Issues statement and full text of the decision published.

23. 12 September 2016

    Timetable published.

24. 5 September 2016

    Derogation published.

25. 1 September 2016

    Inquiry group appointments added.

26. 30 August 2016

    Reference decision announced and terms of reference published.

27. 19 August 2016

    Decision announced: reference unless undertakings accepted.

28. 18 August 2016

    Derogation published.

29. 16 August 2016

    Initial enforcement order and derogation published.

30. 15 August 2016

    Initial enforcement order published.

31. 24 June 2016

    First published.