Merger control (Finland): Finnish Competition Authority clears proposed acquisition of Tapiolan Sokos department store’s business operation by HOK-Elanto Liiketoiminta Oy
- Finland
- 10/02/2008
- Roschier, Attorneys Ltd. - Finland
The Finnish Competition Authority (“FCA”) has cleared the proposed acquisition of the business operation of Tapiolan Sokos department store (“Tapiolan Sokos”) currently owned by Tapiolan Sokos Oy, by HOK-Elanto Liiketoiminta Oy (“HOK-Elanto Liiketoiminta”). Both parties to the transaction belong to S-Group, the largest retail trade group in Finland. HOK-Elanto Liiketoiminta is a subsidiary of Helsingin Osuuskauppa Elanto which is the largest regional cooperative retail society belonging to S-Group and which constitutes Helsingin Osuuskauppa Elanto Group (“HOK-Elanto Group”) with its operations in different business sectors. HOK-Elanto Group is mainly active in the market for retail sale of durable and daily consumer goods, but also in the restaurant business. Tapiolan Sokos is active in the market for retail sale of durable consumer goods. The FCA concluded that the proposed acquisition will not create or strengthen such a dominant market position that would significantly impede effective competition in the Finnish market or in any substantial part thereof.
Source: The Finnish Competition Authority (www.kilpailuvirasto.fi) 10/9/2008_
