Beijer Ref’s acquisition of HRP approved by CMA in UK

   

Beijer Ref AB (publ) is pleased to announce that the UK Competition and Markets Authority (“CMA”) has today unconditionally approved its acquisition of HRP Holdings Limited (“HRP”). The acquisition of HRP was announced in November 2015 and completed in February 2016. However, the CMA launched an investigation on its own initiative into the merger under United Kingdom merger control laws.

In reaching its decision, the CMA is satisfied that the merger will not substantially lessen competition
Beijer Ref can now proceed with its restructuring plans for the HRP business, which has been run
separately out of Beijer Ref’s control during the CMA’s investigation. The investigation started on 25 February 2016. HRP will be consolidated during June 2016.

Per Bertland, CEO of Beijer Ref Group, said that ”we were highly confident that the acquisition of HRP would not reduce competition and are satisfied that the CMA has recognised this. My team and I can now get on and develop the HRP, 3D and HRP OEM brands”. He went on to say ”I would like to take this opportunity to thank our suppliers, customers and employees for their understanding and support during this process.”

Malmö, 8 June 2016

Beijer Ref AB (publ)

For further information, please contact:

Per Bertland, CEO

Telephone +46 40-35 89 00

or

Jonas Lindqvist, CFO

Telephone +46 40-35 89 00

Beijer Ref AB (publ) discloses the information provided here pursuant to the Securities Marcet Act and/or the
Financial Instruments Trading Act.
The information was submitted for publication on 8 June 2016.  

BEIJER REF AB is a technology-oriented trading Group which, through added-value products, offers its customers competitive solutions within refrigeration and climate control. Beijer Ref is one of the largest refrigeration wholesalers in the world, and is represented in 32 countries in Europe, Africa, Asia and Oceania.

www.beijerref.com

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G & L Beijer is a technology-oriented trading Group which, through a combination of added-value agency products and products of the company´s own development, offers competitive solutions for its customers within refrigeration and air conditioning.

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