FCCA approves acquisition of Easy KM by ALD Automotive

On 8 July 2014, the Finnish Competition and Consumer Authority (FCCA) approved a transaction in which Axus Finland Oy, a subsidiary of the French company ALD Automotive, acquired the entire issued share capital of Easy KM Oy from Governia Oy, an investment company of the Finnish government. Easy KM Oy provides vehicle financing and administration services. Axus Finland Oy runs leasing operations in Finland under the auxiliary company names ALD Automotive and Hertz Lease.

The investigations undertaken by the FCCA indicate that this acquisition will not substantially hinder effective competition. There are sufficient alternative operators on the market to balance the concentration created by the transaction. The threshold for intervention defined in the Competition Act was thus not exceeded.

The decision issued by the FCCA includes business secrets of the parties involved. It cannot therefore be published until the confidential items have been removed, in around two weeks’ time.