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Finland: Competition watchdog to take closer look at Kesko deal

By  |  January 13, 2016

Finland’s competition watchdog will conduct an extended review of retailer Kesko’s proposed acquisition of rival Suomen Lahikauppa, noting the strong position a combined group would have.

Kesko agreed in November to buy the loss-making convenience store chain from private equity firm Triton for about 60 million euros ($65 million) to boost growth amid tough price competition in the recession-hit country.

“Following the acquisition, Finnish grocery trade market will further centralise,” the Finnish Competition and Consumer Authority said in a statement.

“(For Kesko) the acquisition creates a monopoly position in some areas with Suomen Lahikauppa stores,” it added.

Full content: Reuters

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