UK regulator starts in-depth probe into Lindab's acquisition of HAS-Vent (updated)

Lindab International AB

03/05/2024 07:32

(Adds deal context in paragraphs 4 and 5)
       May 3 (Reuters) - The UK's competition regulator
launched an in-depth probe into Lindab's  LIAB.ST  acquisition
of British ventilation company HAS-Vent on Friday, after the
Swedish firm did not offer any undertaking following the
watchdog's initial investigation.
    Last week, the Competition and Markets Authority had said
that the deal could reduce competition and increase prices for
installers and contractors.
    The regulator, following its first phase of probe, had found
that the companies compete closely to supply customers in
England and Wales.
    Lindab strengthened its sales and production of ventilation
products in the UK by announcing the acquisition of
Birmingham-based HAS-Vent in October last year.
    At the time of the deal announcement, HAS-Vent had 10
branches in the UK, some in locations where Lindab did not have
operations.

    
    
    


 (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Rashmi Aich)
 ((abyjose.koilparambil@thomsonreuters.com))