EU approves Skanska's settlement proposal for Scancem
The EU Commission today announced that it has approved Skanska's settlement proposal on the issue from 1995 pertaining to Scancem's formation and the issue from 1997 pertaining to Skanska's acquisition of 48% of the votes in the company. Both issues were examined by the EU Commission from a competition legality viewpoint.
| PRESS RELEASE, NOVEMBER 11, 1998 88/98 EU approves Skanska's settlement proposal for Scancem The EU Commission today announced that it has approved Skanska's settlement proposal on the issue from 1995 pertaining to Scancem's formation and the issue from 1997 pertaining to Skanska's acquisition of 48% of the votes in the company. Both issues were examined by the EU Commission from a competition legality viewpoint. The settlement requires that Scancem will dispose of its cement operations in Finland or execute an equivalent cement restructuring and that Skanska will dispose of its shareholding in Scancem. - As a result of the settlement, the uncertain legal status for Scancem is eliminated while at the same time a lengthy legal process with a very uncertain outcome is avoided, says Claes Björk, President and CEO of Skanska, commenting on the ruling.
Danderyd, November 11, 1998 SKANSKA AB
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