European Commission - Daily News
Brussels, 22 February 2016
The European Commission has approved under the EU Merger Regulation the acquisition of Norske Skog of Norway by Blackstone of the US.
Blackstone is a global alternative asset manager and provider of financial advisory services. Norske Skog is a Norwegian-based public company active in the forest products industry with operations in Europe, Australia and New Zealand. Its core activity is the production and sale of wood-based printing paper (newsprint and magazine).
The Commission concluded that the proposed acquisition would raise no competition concerns, because the companies' activities do not overlap. Moreover, none of the companies held by Blackstone are active in markets related to those were Norske Skog is active. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.7934.
(For more information: Ricardo Cardoso – Tel. +32 229 80100; Carolina Luna Gordo – Tel.: +32 229 68386)
Source: Europa.eu (Copyright European Commission)