Irish building products group Kingspan secured European Union regulatory approval on Monday for its planned 315-million-euro takeover of Belgian insulated panel maker Joris Ide Group.
The European Commission said the deal would not hurt competition due to the presence of rivals such as ArcelorMittal and Tata Steel in northwestern Europe.
“The merged entity will continue to face sufficiently strong competition after the merger and customers will still have sufficient alternative suppliers in all markets concerned,” the EU antitrust authority said in a statement.
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