Haynes Publishing Group P.L.C. (LSE:HYNS) signed a letter of intent to acquire E3 Technical business from CarweB Limited for £4.7 million on July 6, 2017. As on September 15, 2017, Haynes Publishing Group P.L.C. (LSE:HYNS) entered into a contract to acquire E3 Technical business from CarweB Limited. As per the terms of the contract, Haynes Publishing Group will acquire the trade and assets of the E3 Technical business. All the direct and indirect business of E3 technical will then be transferred to HaynesPro UK. The consideration will be funded from Haynes Publishing Group’s existing cash resources and banking facilities. The transaction also includes acquisition of certain customer contracts, and employees from Carweb. E3's Technical Sales Director, Daryl Watts will take on the position of Managing Director at HaynesPro UK. The transaction is subject to the satisfaction of certain conditions, including the approval of Competition and Markets Authority. Competition and Markets Authority has extended the period of consideration for eight weeks. As of September 21, 2017, the deal was approved by the Competition and Markets Authority but is still subject to satisfaction of one other commercial condition precedent to closing. Karri Vuori, Erik Anderson and Will Wickham of Panmure Gordon (UK) Limited acted as the brokers and Richard Hill of New Century Media acted as the public relations advisor for Haynes Publishing.