11/29/2016 8:15 AM
In a press release dated 28 September 2016 NIBE Industrier AB announced an agreement to acquire the majority of British Enertech Group, which includes six operations in six European countries. It further indicated that the transaction requires the approval of anti-trust authorities in Sweden and Germany and that the decision could be expected during the fourth quarter.
Approval has been obtained from the anti-trust authority in Germany, while the Swedish anti-trust authority has announced its decision to conduct a special investigation to further examine the acquisition.
The Swedish Competition Authority states in its decision that there is a need for further investigation and analysis so that the Competition Authority can take a final position.
For more information
Benny Torstensson, CIO NIBE Industrier: +46 433-73 070
The information in this press release is such that NIBE Industrier AB is required to disclose under the Market Abuse Regulation and NASDAQ Stockholm’s rules and regulations for issuers. This information was made available for publication by Benny Torstensson at 08:15 (C.E.T.) on 29 November 2016.
About Enertech Group
Enertech Group Ltd. is a British private holding company that owns a group of companies that develop, manufacture and market leading heating technology products worldwide. The acquired group of companies consists of CTC Ferro Fil AS (Norway), CTC Giersch AG (Switzerland), Enertech AB (Sweden), Enertech Belgium SPRL (Belgium), Enertech Limited (UK) and the operations of Enertech GmbH (Germany). Besides CTC, other well-known brands are Enertech, Bentone, Giersch, Nu-Way, Electro-Oil, Parca, Osby-Parca and CTC Ferrofil. Enertech Group Ltd. will retain its subsidiaries in Belgium (Saint Roch), Australia and New Zealand.