The Finnish Competition and Consumer Authority (FCCA) has opened an in-depth investigation into the proposed merger between Tibnor AB and Ovako Metals Oy Ab. This investigation follows initial findings that suggest the acquisition could negatively impact competition in the wholesale distribution of flat stainless steels in Finland.

Tibnor, a subsidiary of the SSAB Group, and Ovako Metals, part of the Nippon Steel Corporation Group, are both significant players in the market, distributing uncut stainless-steel sheets and plates. Tibnor also provides preprocessing services, which include cutting stainless steel coils to specific lengths. The merger would combine two major wholesalers, potentially allowing Tibnor to become the dominant market leader.

The FCCA emphasizes the importance of thoroughly examining the competitive implications of this acquisition. Depending on the findings of the further proceedings, the FCCA may either approve the acquisition, approve it with conditions, or recommend that the Market Court block the deal. The investigation process is expected to take up to 69 working days, with the possibility of an extension of 46 working days by the Market Court.