The Market Court has extended the time limit for further proceedings regarding the proposed merger of Kesko Oyj and Heinon Tukku Oy until 17th November 2019. The merger is being investigated by the Finnish Competition and Consumer Authority (FCCA). Additional time is needed to allow the FCCA to consider in its decision a report produced by Kesko Oyj.
On 17th June 2019, the FCCA opened an in-depth investigation into the merger. Based on the agency’s initial investigations, the merger might have a negative impact on competition for foodservice customers within the daily consumer goods wholesale sector. The three-month processing period set out in the Competition Act would have expired on 17th September 2019. However, at the request of Kesko Oyj, the FCCA applied to the Market Court for an extension of the processing period until 31st October 2019 to complete the process.
On 24th October 2019, the FCCA requested the Market Court to further extend the processing time limit until 17th November 2019. The FCCA requested an extension to the time limit because Kesko Oyj had submitted clarifications to the agency at a late stage in the proceedings and had informed that it will provide further clarifications.
Kesko Oyj opposed the extension of the time limit because it did not want any further delays in processing the decision on the merger. However, the Market Court found that the FCCA had provided compelling reasons for the extension, which meant that the time limit should be extended to 17th November 2019, despite Kesko’s objections.
Further information:
The time limit for in-depth investigation into Kesko’s proposed acquisition of Heinon Tukku has been extended to 31 October, FCCA’s press release 13th September 2019.
FCCA opens in-depth investigation into Kesko’s proposed acquisition of Heinon Tukku, FCCA’s press release 18th June 2019.
Inquiries:
Senior Specialist Pontus Ranta, tel. +358 29 505 3747
Director Sanna Syrjälä, p. +358 29 505 3385
forename.surname@kkv.fi