Brief: UK's CMA accepts remedy to address competition concerns in foam merger

Recticel SA

16/11/2022 07:04

Nov 16 (Reuters) - Carpenter Technology Corp  CRS.N :
    * UK'S COMPETITION AND MARKETS AUTHORITY SAYS ACCEPTS REMEDY
TO
ADDRESS CONCERNS IN FOAM MERGER
    * US-BASED CARPENTER AGREED TO BUY BELGIAN FIRM RECTICEL'S
GLOBAL
ENGINEERED FOAMS BUSINESS IN A EUR 656 MILLION (EUROS) DEAL
ANNOUNCED IN 2021.
    * UK'S COMPETITION AND MARKETS AUTHORITY SAYS "REQUIRING
CARPENTER
TO SELL MOST OF UK ARM OF RECTICEL'S ENGINEERED FOAMS BUSINESS
TO AN INDEPENDENT, CMA-APPROVED BUYER WILL PROTECT UK
MANUFACTURERS FROM HIGHER COSTS
    * UK'S COMPETITION AND MARKETS AUTHORITY SAYS ON THESE
TERMS,
TRANSACTION CAN GO AHEAD.

Source text for Eikon:  ID:nRSP4984Ga 
Further company coverage:  CRS.N 
 (Reporting By Sinead Cruise)
 ((sinead.cruise@thomsonreuters.com;))