Last week, the Finnish Market Court approved NCC鈥檚 acquisition of Destia鈥檚 asphalt operation subject to certain conditions. NCC has now analysed the conditions and has chosen not to complete the agreement but instead to set up a new deal. NCC said that had become clear that the Market Court鈥檚 conditions were partly not under NCC鈥檚 control. The new agreement will be examined by the Finnish Competition Authority, which is expected to complete its inquiry before year-end.
The new agreement encompasses Destia鈥檚 entire asphalt and paving operations, with the exception of asphalt operations in the Helsinki area.
NCC had signed an agreement in March to acquire Destia鈥檚 asphalt and paving operations. Subsequently, the agreement became subject to review by the Finnish Competition Authority, which announced in early August that it opposed the merger and requested that the matter be tried in the Market Court. Last week, the Finnish Market Court approved the acquisition subject to certain conditions.
Got a story? Email news@theconstructionindex.co.uk
