IN BRIEF: UK CMA starts probe into Kingspan acquisition of Coverworld

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Kingspan Group PLC - Kingscourt, Ireland-based provider of insulation and building envelopes - UK Competition & Markets Authority begins an investigation into Kingspan’s acquisition of Coverworld Holdings, a maker of steel cladding systems. The CMA is mulling whether the deal would result in ‘a substantial lessening of competition’ in any UK markets and has until September 1 to reach its phase 1 decision. Back in 2020, in blocking Kingspan’s acquisition of Building Solutions (National) Ltd from SIG PLC, the CMA cited Coverworld as one of four strong competitors to the proposed combination in single-skin construction sheets. Coverworld UK Ltd is based in Chesterfield, Derbyshire.

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