ASSA ABLOY Sells Certain Businesses in Relation to the Acquisition of Agta Record
STOCKHOLM, June 29, 2020 /PRNewswire/ -- ASSA ABLOY has entered into binding agreements with Italy based FAAC Group for the sale of certain agta record and ASSA ABLOY businesses, as part of the commitments to address the competition concerns of the EU Commission in connection with the acquisition of the Swiss company agta record (the "Divestiture").
- STOCKHOLM, June 29, 2020 /PRNewswire/ -- ASSA ABLOY has entered into binding agreements with Italy based FAAC Group for the sale of certain agta record and ASSA ABLOY businesses, as part of the commitments to address the competition concerns of the EU Commission in connection with the acquisition of the Swiss company agta record (the "Divestiture").
- The divested business includes the agta record operations in the Netherlands, Austria, Hungary and Slovenia, as well as the ASSA ABLOY automatic pedestrian door business in France and the UK.
- The acquisition of agta record is expected to be closed during July 2020 after all remaining closing conditions and the EU Commission requirements have been fulfilled.
- Additional information, particularly with regard to the closing of the acquisition of agta record and to the subsequent tender offer by ASSA ABLOY on the remaining agta record shares, will be communicated as soon as possible.