Lemminkäinen concrete sale approved

The Finnish Competition Authority (FCA) has approved building materials company Rudus' €55 million acquisition of Lemminkäinen's concrete business, Lemminkäinen Rakennustuotteet.

The approval comes after the FCA launched an investigation into the all-share deal over concerns it could result in the creation of a dominant position in the Finnish concrete market.

The FCA has not imposed any conditions on the deal, which was first signed in July, and Lemminkäinen said the transaction was now likely to be concluded in the coming month.

Lemminkäinen Rakennustuotteet is part of Lemminkäinen's Infrastructure Construction business sector and operates three business areas - precast concrete elements (Elemento, with five plants), landscaping concrete products (Formento, with three plants) and ready-mixed concrete (16 plants).