Beijer Ref AB (publ) (“Beijer Ref”) is pleased to announce that the UK Competition and Markets Authority (“CMA”) has today unconditionally approved its acquisition of HRP Holdings Limited (“HRP”).
The acquisition of HRP was announced in November 2015 and completed in February 2016. However, the CMA launched an investigation on its own initiative into the merger under United Kingdom merger control laws.
In reaching its decision, the CMA is satisfied that the merger will not substantially lessen competition Beijer Ref can now proceed with its restructuring plans for the HRP business, which has been run separately during the CMA’s investigation.
John Billson, Managing Director of Beijer Ref UK and Ireland, said that
"we were highly confident that the acquisition of HRP would not reduce competition and are satisfied that the CMA has recognised this. My team and I can now get on and develop the HRP, 3D and HRP OEM brands". He went on to say "I would like to take this opportunity to thank our suppliers, customers and employees for their understanding and support during this process."