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Finnish Competition and Consumer Authority Proposes to Market Court Not to Approve Joint Venture Plan Between Uponor Oyj and KWH Group Oy


Monday, 25 Feb 2013 08:00am EST 

Uponor Oyj announced that it has on February 25, 2013 received notice from the Finnish Competition and Consumer Authority that it proposes to the Market Court that the joint venture plan between Uponor and KWH Group Oy shall not be approved. The plan consists of merging the infrastructure solutions businesses of both companies into a jointly owned enterprise. Against the view of Uponor and KWH, the Competition and Consumer Authority considers that the transaction potentially leads to a impediment of competition in the markets for infrastructure products. Uponor and KWH will familiarize themselves with the proposal and consider a further course of action. The companies have the right to file their defense for the case at the Market Court and the Market Court shall give its decision by May 25, 2013. 

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10.25
-0.26 -2.47%
10:26am EDT