Aker Kvaerner's sale of Pulping and Power businesses to Metso into the second phase in the European regulatory clearance process
Metso Corporation's application for the clearance of its purchase agreement of Aker Kvaerner's Pulping and Power businesses has been extended into the second phase in the EU review process. The European Commission has indicated in a press release it has issued today that it has identified certain potential competition issues in the markets for pulp mill equipment. Metso and Aker Kvaerner continue to cooperate constructively with the Commission to lift any doubt that might exist and to solve any potential competition concerns.
Both Metso and Aker Kvaerner continue to believe that the acquisition does not pose significant competition issues. Furthermore, the companies believe that it will create synergies and development potential that will benefit customers in the future. The second phase will involve the continuation of the European Commission's review of the acquisition for a period up to 90 working days, with possible extensions.
The acquisition of Aker Kvaerner's Pulping and Power businesses fits well with Metso's strategy of profitable growth. Kvaerner Power's products and services, i.e. chemical recovery systems for the pulping industry and power generation solutions, are not part of Metso's current offering. The pulping equipment and related services delivered by Kvaerner Pulping are mainly complementary to Metso's current fiber technology offering.