Slovenia/Ireland: The European Commission has fined Kingspan €40m for providing ‘incorrect and misleading information’ during a 2021 review of its now abandoned attempt to acquire Slovenia-based mineral wool sandwich panels and insulation systems producer Trimo. In a press release, the Commission said that the fine comprises €10m for each of four infringements of the EU Merger Regulation. The infringements concerned the availability of bidding data, directors' involvement in the planned acquisition, how the producer tracks penetration rates for mineral fibre sandwich panels and its research and development.
Kingspan said that it will appeal the decision.
