Construction News

Mon September 28 2020

Related Information

NCC agrees new asphalt deal with Destia

11 Nov 11 NCC has entered into a new agreement for the acquisition of Destia’s asphalt operation in response to the conditions imposed by the Finnish court regarding the original deal.

Last week, the Finnish Market Court approved NCC’s acquisition of Destia’s 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’s conditions were partly not under NCC’s 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’s 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’s 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

MPU
MPU

Click here to view more construction news »