EU antitrust regulators drop probe after Kingspan ditches Slovenian bid

div classBodysc17zpet90 cdBBJodivpBy Foo Yun Cheep

pBRUSSELS Reuters – EU antitrust regulators on Friday dropped their yearlong investigation into Kingspans proposed acquisition of Slovenian rival Trimo after the Irish insulation maker abandoned its bid.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe European Commission had previously said the deal, announced two years ago, could significantly reduce competition for mineral fibre sandwich panels in the Czech Republic, Denmark, France, Hungary, Slovakia, Slovenia and the UK, as both companies are direct rivals.p

pKingspan and Trimo are both leading companies in the market for mineral fibre sandwich panels, which are used for the construction, renovation and insulation of a variety of industrial and commercial buildings.p

pThe EU competition watchdog was poised to block the deal after Kingspan failed to address its concerns, a source familiar with the matter said. The company never offered remedies, according to the Commission website.p

pThe Commission said it took note of Kingspans decision to end its agreement with Trimo parent European Architecturalp

pSystems.p

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pp Reporting by Foo Yun Chee Editing by Sandra Malerp

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