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| NCC enters into new agreement to acquire Destia’s asphalt operation Last week, the Finnish Market Court approved NCC's acquisition of Destia's asphalt operation subject to certain conditions. Swedish builder NCC has now analyzed the conditions and choose not to complete the agreement by March 2011 but instead use a new agreement with Destia, since it 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. It was in March 2011 that 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. Last week, the Finnish Market Court approved the acquisition subject to certain conditions. NCC has now analyzed the Market Court's conditions and chooses not to complete the agreement by March 2011 but instead use a new agreement with Destia since it had become clear that the conditions for the business transaction were partly not under NCC's control. The new agreement will now 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. write your comments about the article :: © 2011 Construction News :: home page |