Kingspan Says EU Clears Joris Ide Acquisition

LONDON (Alliance News) - Kingspan Group PLC Monday said that the EU Commission has given unconditional competition clearance for its EUR315 million acquisition of Belgian steel manufacturer Joris Ide Group.

In a statement, the Irish building materials company said the deal is expected to complete before the end of March.

The deal for the Belgian steel firm was announced towards the end of January, when Kingspan said the acquisition would extend its reach in Europe.

Kingspan shares closed up 2.0% at 18.15 pence per share on Monday.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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