Competition Authority believes Kingspan’s proposed £59.5m takeover may reduce competition in Irish insulation board sector
The Competition Authority has decided to probe Irish building materials group Kingspan’s proposed £59.5m purchase of the Leanort Group.
As Leanort Group is the holding company for the UK based insulation board manufacturers Xtratherm and Hytherm, the Competition Authority believes Kingspan’s latest gain may present a reduction in competition. This is due to Kingspan and Leanort’s insulation business in Ireland.
The Competition Authority said that preliminary examinations were inconclusive as to whether the deal could substantially reduce competition in the Republic of Ireland.
Regulatory approval of Kingspan’s acquisition is necessary for the deal to go ahead.
Interested parties such as suppliers, customers and competitors have until August 15th to submit their view, while Kingspan must wait until October 26th for the Competition Authority’s verdict.
