Brussels – The European Commission has approved Kingspan's proposed £99m (136m) purchase of TeraPlast's polyurethane insulated panel business. This business trades as TeraSteel and Wetterbest in Serbia and Romania.
According to Romanian press reports, the deal now awaits approval from Serbia's competition authority before it can be completed. Their judgement is expected in mid-February.
The proposed purchase is being made by Kingspan Holdings Netherlands, which already owns Wetterbest.
The deadline for objections to the EU was 21 December 2020.
Currency conversion: XE.com
