Press Release: Mergers: Commission approves acquisition of Aker Kvaerner’s pulp machine business by Metso, subject to conditions

The European Commission has approved, under the EU Merger Regulation, the planned acquisition by Metso Corporation Oy (“Metso") of Finland of the pulp and power business of the Norwegian group Aker Kvaerner ASA. During its in-depth investigation, opened in August 2006 (see IP/06/1100), the Commission found that the proposed acquisition might create competition problems in a number of markets for pulp mill equipment. However, these concerns were entirely removed by Metso’s commitment to divest overlapping businesses to the Canadian-based supplier GL&V. In light of these substantial remedies, the Commission concluded that the merger would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.