GÖTEBORG, Sweden, Aug. 21, 2023 /PRNewswire/ -- Following the press release of November 16, 2022 OptiGroup and the Finnish B2B wholesaler Pamark Business Oy announce that they have decided to abandon the proposed transaction.
After a full phase 2 investigation to the proposed transaction, the Finnish Competition and Consumer Authority (FCCA) has concluded that the acquisition will raise competition concerns in the market for cleaning and hygiene products especially to larger customers in Finland.
Despite the good faith efforts to develop a remedy commitment package, the parties consider that the receipt of FCCA approvals for the consummation of the transaction on acceptable terms and within short seems unlikely. OptiGroup and Pamark have therefore agreed to terminate the SPA and withdraw from the closing of the transaction.
For further information, please contact:
Sören Gaardboe, President and CEO, OptiGroup, firstname.lastname@example.org
Thomas Eriksson, CFO and SVP Finance, OptiGroup, email@example.com
Stefan Sikander, Corporate Communication Director, OptiGroup, firstname.lastname@example.org