The Finnish Competition and Consumer Authority (FCCA) approved on 24 April 2018 the transaction by which The Blackstone Group L.P. acquires Finnish Residential Lux Topco S.a.r.l, which has indirect ownership of the Finnish limited companies belonging to the so-called Olo-Asuntoportfolio.
The Blackstone Group is a global private equity company. The company acquired is Finnish Residential Lux Topco S.a.r.l, which is based in Luxembourg and has indirect ownership of the Finnish limited companies that belong to the so-called Olo-Asuntoportfolio and lease out apartments.
The regulatory reviews conducted by the FCCA did not reveal any harmful effects on competition related to the acquisition. The companies do not have overlapping operations, and the FCCA estimates that the acquisition will not significantly impede effective competition in the Finnish market.
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.
More information:
- Senior Research Officer Laura Kauppila, tel. +358 (0)29 505 3335
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.