FCCA approves acquisition of Delta Auto by Veljekset Laakkonen

On 24 May 2018, the Finnish Competition and Consumer Authority (FCCA) approved the acquisition by Veljekset Laakkonen Oy of Delta Auto Oy’s BMW car dealership businesses in Lahti, Kouvola and Lappeenranta. The FCCA has concluded that the acquisition will not significantly impede effective competition in the Finnish market.

Veljekset Laakkonen Oy engages in the retail and maintenance of cars and spare parts, and trades in used cars. Together with Autotalo Laakkonen Oy, Veljekset Laakkonen Oy is part of the Kauppahuone Laakkonen Group. Delta Auto Oy, a subsidiary of Delta Motor Group Oy, also engages in the retail and maintenance of cars and spare parts, and trades in used cars.

The FCCA investigated the competitive impact of the acquisition on the retail market in new and second-hand passenger cars in Finland, and on the markets for maintenance, repair and spare parts services. According to the assessment of the Authority, even after the acquisition there will be other competitors in the areas and market segments in which the parties to the acquisition have overlapping operations. Furthermore, the regulatory reviews conducted by the FCCA did not reveal any harmful effects 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:

  • Research Officer Jenna Huttu, tel. +358 (0)29 505 3576
    email: firstname.lastname@kkv.fi

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.