The Competition and Consumer Protection Commission is to carry out a full investigation into the proposed acquisition of loan servicing firm, Pepper, by financial services administrator, Link Group.
In a statement, the CCPC said it had decided to carry out what's referred to as a 'Phase 2' investigation into the deal which would see Link Group Administration Limited assume full control of Pepper Ireland Finance Holdings Limited, Pepper Cyprus Holdings Limited, Pepper (UK) Limited and Pepper Spanish Servicing S.L.U.
A preliminary investigation was carried out after the deal was announced in January.
The CCPC said a full investigation was now warranted to establish whether the proposed transaction could result in reduced competition in any market for goods or services.
Pepper's Irish operation manages around €18 billion in assets, including 60,000 residential mortgages.
Both Link and Pepper are Australia based.
