FCCA okays Altia-Arcus merger on condition

The Finnish Competition and Consumer Authority (FCCA) on Monday decided to approve the merger of Altia Plc (Altia) and Arcus ASA (Arcus), conditional on the divestment of Altia’s aquavit brand Skåne Akvavit, prior to the completion of the merger and the termination of Arcus’ distribution agreement concerning the liqueur brand Metsmaasikas.

Altia and Arcus have committed to provide transitional services to the buyer for a limited period, to the extent required. The decision is in line with the proposed remedies disclosed by Altia on 15 April, said the Altia group in a press release.

Altia Plc (Altia) and Arcus ASA (Arcus) announced on 29 September 2020 the merger of Altia’s and Arcus’ business operations through a statutory cross-border absorption merger of Arcus into Altia.

The completion of the merger is subject to merger control approvals from the Finnish Competition and Consumer Authority (FCCA), the Swedish Competition Authority (SCA) and the Norwegian Competition Authority (NCA).

SCA already has conditionally approved the merger while the decision by NCA is expected to be received by 20 May.

The approved and proposed remedy divestments will not affect the previously communicated synergy potential or the industrial logic behind the combination of Altia and Arcus. These divestments will not include production equipment, facilities, or employees.

Altia and Arcus continue to be fully committed to the merger and are working closely with the competition authorities to obtain regulatory approvals allowing completion of the merger as planned by the end of the first half of 2021. However, as disclosed on 15 April 2021, completion of the merger may be delayed to the fall of 2021, since a binding agreement on the divestments must be entered into, prior to the completion of the merger.