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Assa Abloy: EU clears acquisition of 54% of Agta Record
(CercleFinance.com) - Swedish lock maker Assa Abloy has received phase 1 conditional clearance by the EU Commission for it to indirectly acquire the 54% shareholding in agta record.
The closing is expected in the second half of 2020 if the requirements and conditions set by the Commission are met. "Assa Abloy has made commitments to address the competition concerns of the EU Commission, including entering into binding agreements for the sale of certain agta record and ASSA ABLOY businesses to third parties," it said. "The commitments include the divestiture of the agta record operations in the Netherlands, Austria, Hungary and Slovenia as well as the ASSA ABLOY automatic pedestrian door business in France and the UK. In addition, agta record´s high-speed door business in France will be divested," the group added. Copyright (c) 2020 CercleFinance.com. All rights reserved. |
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