Pihlajalinna Plc Stock Exchange Release 2 November 2021 at 12.00 p.m.
Finnish Competition and Consumer Authority has initiated further proceedings regarding the merger between Pihlajalinna Plc and Pohjola Hospital Ltd
Pihlajalinna Plc announced on 2 July 2021 that Pihlajalinna Terveys Ltd, which is part of the Group, has agreed to acquire the entire stock of shares of Pohjola Hospital Ltd from its current owner Pohjola Insurance Ltd. The acquisition is subject to a merger control clearance by the Finnish Competition and Consumer Authority (FCCA). On 30 September, Pihlajalinna announced that it has submitted the formal merger control notification to the FCCA.
The first phase of the notification proceedings, in accordance with the Competition Act, concluded today. The FCCA has today made the official decision to initiate the second phase of the proceedings. According to the Finnish Competition Act, the second phase of the proceedings may not take more than 69 business days unless the Finnish Market Court grants, upon application, an extension to the FCCA for further investigating. Without the potential extension, the second phase of the proceedings will be completed no later than 10 February 2022.
Based on currently available information, Pihlajalinna expects to complete the acquisition by the end of 2021 or in the first quarter of 2022.