Decision from the Stockholm City Court regarding LOGSTORs acquisition of Powerpipe Systems

Further to the announcement on 7 September 2015 regarding the acquisition by LOGSTOR of Powerpipe Systems, a Swedish-based leading provider of pre-insulated pipe systems, and the decision by the Swedish Competition Authority (SCA) to file a summons application with the Stockholm City Court, Sweden, on 12 February 2016 requesting the court to prohibit the transaction, the Stockholm City Court, Sweden has now issued a favourable judgment to allow this transaction. We are pleased with the City Court’s decision and will now await confirmation that this judgment is final before taking the last steps between Seller and Buyer to complete the transaction as soon as practical.