26 April 2017
The Finnish Competition and Consumer Authority (FCCA) approved on 25 April 2017 a business deal between Posti Group Oyj and SOLEMO Oy to create a joint venture that offers internal logistics services. The Finnish Competition and Consumer Authority has concluded that the acquisition will not significantly impede, as referred to in the Competition Act, effective competition in the Finnish market, because the parties’ share in the internal logistics market is small.
Posti Group Oyj is the parent company of the Posti group. Posti is a provider of logistics services, its operations including the delivery of mail and messages, transportation, storage, freighting, forwarding and other service logistics operations, and home and care services.
SOLEMO Oy is the parent company of the SOL group. The SOL group offers real estate services, temporary staffing services and logistic services.
The joint venture by Posti Group and SOLEMO will offer internal logistics services, that is, processing of goods and materials at the customer’s premises and performed with the customer’s systems, and use of related information systems and equipment.
The FCCA’s decision includes business secrets of the parties involved. The decision cannot be published until the business secrets have been removed, i.e. in around two weeks’ time.
Further information: Research Officer Samuli Muotka, tel. +358 (0)29 505 3680, email@example.com
According to the Competition Act, the FCCA must be notified of the transaction if the combined turnover of the parties to the corporate transaction exceeds 350 million euros and the turnover of at least two of the parties resulting from Finland exceeds 20 million euros for both. FCCA approves a corporate transaction if it has no harmful impacts referred to in the Competition Act. FCCA will intervene in corporate transactions if its investigations suggest that the acquisition may significantly impede effective competition on Finnish markets or a substantial part of the markets, particularly through the creation or reinforcement of a dominant market position.
Read more about merger control