Further proceedings of the proposed acquisition of Restel’s hotel business

The Finnish Competition Authority has today announced that it has decided to initiate further proceedings of Scandic Hotel Group's ("Scandic") proposed acquisition of Restel's hotel operations in Finland.

The possibility of further proceedings was included in the original timetable for the transaction, and it is still the company's assessment that the transaction will be completed by the end of the fourth quarter 2017, subject to the results of the review. According to the Competition Act, the further proceedings may not take longer than three months. Scandic believes that the proposed deal will be positive for customers in the Finnish hotel market and will continue its constructive dialogue with the competition authorities to ensure that all questions are answered satisfactorily.

The proposed acquisition of Restel was announced on 21 June 2017.

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Jan Johansson

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