On 18 November 2015, the Finnish Competition and Consumer Authority (FCCA) approved a business transaction whereby Finnair Plc, Staffpoint Holding Ltd and Kilco Oy acquired a controlling interest in Nordic Regional Airlines AB (former Flybe Nordic AB).
Before the FCCA accepted this acquisition, on 29 January 2015 it accepted a business transaction whereby Staffpoint Holding Ltd and Oy G.W. Sohlberg Ab would join Finnair Plc as partners in Nordic Regional Airlines AB (“Nordic”). However, this arrangement was never put into practice. Following this, on 14 August 2015, the FCCA accepted a business transaction whereby Finnair acquired sole control of Nordic.
With this business transaction, Finnair will give up sole control of Nordic by sharing control of the autonomously operating joint venture with Staffpoint and Kilco. Finnair will sell 60% of the stock it owns to Staffpoint and Kilco. Finnair will have 40%, Staffpoint 45% and Kilco 15% ownership of the venture once it has been founded.
The FCCA is of the view that the acquisition will not significantly impede effective competition in the Finnish market or a substantial part of the market. As Finnair already has sole control over Nordic, the companies are not competitors. The controlling interests acquired by Staffpoint and Kilco do not constitute a problem from the viewpoint of competition.
The FCCA’s decision includes the business secrets of the parties involved. The decision can only be published after the confidential information has been removed, which will take approximately two weeks.