UK: SIG and Kingspan have agreed to terminate the sale of SIG subsidiary Building Solutions (National) to Kingspan for Euro42.1m. The Competition and Markets Authority (CMA) had referred the deal for a Phase 2 Investigation on 21 April 2020. SIG said that it anticipated the investigation to conclude in October 2020. The deal will expire on 7 July 2020. Due to ‘prevailing market conditions,’ the parties terminated the agreement.
SIG said, “It has not been possible for the company and Kingspan to agree commercial terms for the extension of the agreement.”
