PPG Receives European Commission Approval for Pending Acquisition of Tikkurila’s Shares
PPG (the “company”) announced that the European Commission has granted unconditional approval of PPG’s acquisition of Tikkurila’s shares. PPG stated that the approval is an important milestone in the process and further enhances the certainty of completing the transaction.
The transaction remains subject to additional customary conditions to completion and other regulatory approvals. The tender offer is currently scheduled to expire on March 15, 2021. The company will provide additional updates at that time. PPG currently expects to close the transaction in the first quarter or early in the second quarter of 2021.
Additional details about the European Commission approval are contained in the Nasdaq Helsinki stock exchange release.
About PPG Industries
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
Tikkurila was established in 1862, and is headquartered in Vantaa, Finland. Tikkurila operates in eleven countries and its 2,700 dedicated professionals share the joy of building a vivid future through surfaces that make a difference. The company is a leading producer and distributor of decorative paint and coatings with more than 80% of its revenue coming from Finland, Sweden, Russia, Poland, and the Baltic states. Tikkurila develops premium products and services that provide its customers with quality that will stand the test of time and weather. In 2020, revenue totaled EUR 582 million. The company is listed on Nasdaq Helsinki.
Mark Silvey – Corporate Communications – email@example.com – (412) 434-3046
Source: PPG Industries, Inc.