On 12 January 2018, the Finnish Competition and Consumer Authority approved Axel Johnson International’s acquisition of SKS Mekaniikka Oy, SKS Control Oy, SKS Sweden AB, SKS Mechatronics Oy and SKS Tehnika OÜ. The regulatory review conducted by the FCCA did not reveal any harmful effects on competition related to the acquisition.
Axel Johnson International acquires and develops companies that provide products and services to businesses in various sectors of industry. SKS Mekaniikka, SKS Control, SKS Sweden, SKS Mechatronics and SKS Tehnika operate in the industrial machinery component wholesale market.
The FCCA has concluded that the acquisition will not significantly impede effective competition in the Finnish market. The business operations of the parties to the acquisition do not overlap in Finland other than in respect of the wholesale of mechanical power transmission components, and the regulatory reviews conducted by the FCCA did not reveal any harmful effects on competition related to the acquisition.
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: Senior Research Officer Laura Kauppila tel. +358 (0)29 505 3335, email: firstname.lastname@example.org.
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 from Finland of at least two of the parties exceeds a combined total of 20 million euros. The FCCA will approve a corporate transaction if it has none of the harmful impacts referred to in the Competition Act. The FCCA will intervene in corporate transactions if its investigations suggest that the acquisition substantially impedes effective competition on Finnish markets or a substantial part of the markets, particularly through the creation or reinforcement of a dominant market position.
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