Destia and NCC reach a new agreement on surfacing business transaction
Destia and NCC have reached an agreement concerning the selling of Destia’s surfacing business to NCC.
In March 2011, Destia signed an agreement to sell its surfacing business to NCC. The business transaction required the approval of the Finnish Competition Authority. In August, the Authority decided to propose that the transaction be rejected, after which the matter was transferred to the Market Court. Last week, the Market Court decided to accept the transaction with some conditions.
NCC was not able to accept the conditions set for the original business transaction. Destia and NCC have therefore cancelled the business transaction signed in March 2011 and have now reached a new agreement. The new agreement must also be approved by the Finnish Competition Authority. The Authority is expected to make its decision before the end of this year.
The business transaction includes the entire surfacing business with the exception of an asphalt plant located in the Helsinki Metropolitan Area. Approximately 80 employees will be transferred to the service of the new company, as old employees with their current employment terms.
Aki Markkola, General Counsel, tel. +358 400 685 669