(Alliance News) - The UK's monopoly regulator on Thursday said it will consider whether SIG PLC's disposal of its Building Solutions (National) Ltd roofing, cladding and insulation business will lead to a lessening of competition.
Building materials firm SIG announced the GBP37.5 million sale to Irish peer Kingspan Holdings (Panels) Ltd in October.
The UK Competition & Markets Authority is inviting comments on the deal until February 20.
The sale was part of SIG medium-term strategy of disposing of non-core businesses to refocus the business portfolio and strengthen its balance sheet. Proceeds from sale of the Building Solutions business also will go towards lowering SIG's debt, the company had said.
SIG shares were 1.5% higher at 93.85 pence each in London on Thursday morning.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
SIG (SHI)