Today, the Finnish Competition Authority approved NCC’s acquisition of Destia’s asphalt operations without reservation.
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 Finnish Market Court.
The Market Court later approved the acquisition subject to certain conditions. Accordingly, NCC opted not to complete the agreement signed in March and instead decided to enter into a new agreement with Destia.
The new agreement, which comprises all of Destia’s asphalt and paving operations with the exception of an asphalt works in the Helsinki area, has now been approved by the Finnish Competition Authority.
Sales in 2010 for the now acquired business are estimated at approximately SEK 375 million and the company has about 80 employees who will be transferred to NCC Roads.
Takeover of the operations is expected to occur in December and both parties have agreed not to disclose the purchase consideration.
NCC previously published information regarding its agreement with Destia on March 24, August 5, November 2 and November 10.
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 24, 2011, at xx:00 a.m/p.m.
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.