Insider information: The processing time of Enersense International Plc's acquisition regarding Voimatel Oy has been extended

Enersense International Plc  
Insider information 13 January 2023 at 1:45 p.m.

The Finnish Competition and Consumer Authority (FCCA) has decided to transfer Enersense International Plc's acquisition regarding Voimatel Oy to further processing, which may take up to 69 business days. During the first phase of the processing, the FCCA has obtained information from competitors, customers and suppliers by means of requests for statements and reports. The FCCA deems it necessary to continue the analysis of the competitive impacts of the acquisition.

"At Enersense we see closing of this acquisition important because effective information and energy networks play a key role in society. In terms of functionality of society and security of supply in Finland, it is - and will continue to be - important to create, develop and maintain a critical telecommunications and network infrastructure. We also see that assessing the countervailing buyer power, where also the bargaining strength of the buyer as well as its commercial significance to the seller are considered, is essential in terms of the analysis of the competitive impact of an acquisition. There are conflicting views on this matter, but we trust that the Authority will carefully assess the situation as a whole", says Jussi Holopainen, President and CEO, Enersense International Plc.

The Estonian Competition Authority has previously approved the acquisition in terms of the companies' operations in Estonia (press release 18 November 2022).

Enersense International Plc 
Jussi Holopainen 
CEO 

Further information:

Jussi Holopainen, CEO 
Tel: [phone] 
Email: [e-mail] 

Media contacts: 

Tommi Manninen, Communications and Public Affairs 
Tel: [phone] 
Email: [e-mail] 

Distribution: 
Nasdaq Helsinki 
Major media 
www.enersense.com 

Enersense in brief:     

Enersense International Plc is a creator of zero emission energy solutions and strongly supports the ongoing energy transition and enabling a zero-emission society. Enersense Group's revenue in 2021 was approximately EUR 239 million. The company has approximately 2,000 employees, with operations in Finland and globally in roughly 40 countries. Enersense's shares are listed on Nasdaq Helsinki (ESENSE). The company's investor pages can be found at www.enersense.com/investors.   

https://news.cision.com/enersense-international-oyj/r/insider-information--the-processing-time-of-enersense-international-plc-s-acquisition-regarding-voim,c3697204

https://mb.cision.com/Main/17026/3697204/1778725.pdf

(c) 2023 Cision. All rights reserved., source Press Releases - English