NCC’s acquisition of Destia’s asphalt operations approved subject to conditions
The Finnish Market Court has approved NCC’s acquisition of Destia’s asphalt operations subject to certain conditions. NCC will now analyze the conditions while also awaiting the position taken by the Finnish Competition Authority concerning a possible appeal to the Supreme Administrative Court, before the transaction can be finalized.
In March 2011, NCC signed an agreement to acquire the asphalt and paving operations of the Finnish company Destia. 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.
The Finnish Market Court has now approved the acquisition subject to certain conditions. The Competition Authority has until December 2 to appeal this ruling to the Supreme Administrative Court.
“We take a positive view of the Market Court’s ruling and will analyze the conditions. In addition, we will await expiration of the Competition Authority’s deadline for appealing to a higher authority before being able to finalize the transaction,” says Göran Landgren, Business Area President, NCC Roads.
NCC has previously communicated information concerning the agreement with Destia on March 24, 2011 and August 5, 2011.
For further information, please contact:
Göran Landgren, Business Area President, NCC Roads +46 705 950 730
Magnus Jonsson, External Communication and Media Relations Manager, NCC AB, +46 70 817 87 11
NCC’s media line: +46 (0)8-585 519 00, E-mail: press@ncc.se
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on November 2, 2011 at 2:00 pm.
All NCC’s press releases are available at www.ncc.se/press
NCC is one of the leading construction and property development companies in the Nordic region. In 2010, NCC had sales of SEK 49 billion, with 17,000 employees. NCC Roads’ core business is the production of aggregates and asphalt, as well as asphalt paving and road services.