It is with great pleasure that I can share that The Danish Competition Council has made a decision to approve Kingspans acquisition of TreeTops. To obtain the approval, Kingspan has committed to divest TreeTops' business in the sale of wood wool ceiling tiles.
The chairman of The Danish Competition Council, Christian Schultz, has made the following statement regarding the decision:
“Kingspan's subsidiary, Troldtekt, is currently the largest player in the market for wood wool ceiling tiles, and TreeTops has so far been one of Troldtekt's main competitors in this area. Together, the two companies have a very large share of the wood wool ceiling tiles market, and it has therefore been necessary to ensure that competition in this market is not harmed as a result of the merger.
Kingspan has committed to divest TreeTops' business in wood wool ceiling tiles. At the same time, our investigations have shown that after the divestment, there will still be competition to Kingspan's wood wool ceiling tiles. Therefore, we assess that the merger does not impede competition and approve it subject to the commitment.”
For more information and the decision (in danish) please click the link below:
https://lnkd.in/daHhi2_8
Independent Board Advisor at Trive Capital
5moCongratulations!