Cennox Plc, the closely held cash-machine maker, has agreed to buy Diebold Nixdorf Inc.’s U.K. and Ireland business, adding employees and scale to its banking services operations in the countries.
The U.K.’s Competitions and Markets Authority, which investigates acquisitions for potential competition concerns, has approved the sale, Camberley, England-based Cennox said in a statement on Thursday.
Diebold had acquired additional operations in the U.K. as part of its agreement to buy German rival Wincor Nixdorf AG, a cash-and-stock takeover valued at about 1.6 billion euros ($1.8 billion) when it was announced in 2015. The CMA had said in March that Diebold Nixdorf would have to sell either its Diebold U.K. or Wincor U.K. unit to proceed with the combination.
John Ennis, managing director of Diebold’s U.K. and Ireland business, will join Cennox in a similar role overseeing its U.K. operations, and all existing U.K. staff will move to the combined company, the statement said.
To contact the reporter on this story: Ruth David in London at rdavid9@bloomberg.net.
To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net, Amy Thomson, Timothy Sifert
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