Pihlajalinna Plc Stock Exchange Release 30 September 2021 at 12.00 p.m.
Pihlajalinna Plc submitted a formal merger control notification to the Finnish Competition and Consumer Authority regarding the acquisition of Pohjola Sairaala
Pihlajalinna Plc announced on 2 July 2021 that Pihlajalinna Terveys Ltd, 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 of the stock of shares is subject to a merger control clearance by the Finnish Competition and Consumer Authority (the FCCA). Pihlajalinna has today submitted the formal merger control notification to the FCCA.
According to the Finnish Competition Act, the first phase of the notification proceedings may not take more than 23 working days. The first phase of the proceedings will thus be completed no later than on 2 November 2021. It is possible that, after the first phase, the FCCA initiates continued second phase of notification proceedings. According to the Finnish Competition Act, the continued second phase investigation may not take more than 69 working days, unless the Finnish Market Court grants, upon application, an extension to the FCCA for investigating the case. Possible continued second phase of the proceedings will be completed no later than on 10 February 2022.
Based on currently available information, Pihlajalinna expects to complete the acquisition in the end of the year 2021 or during the first quarter of 2022.