BELGIUM - On 15 February 2022, the European Commission received a notification of a proposed concentration in the wood-based panels market.

As part of the transaction, Cyprus-based Kronospan Holdings P.L.C is to acquire from Pfleiderer Group B.V. & Co. KG (Germany), Pfleiderer Polska sp. z.o.o. with its registered office in Wrocław. Pfleiderer Polska owns among others the wood-based panels plants in Grajewo and Wieruszów (Poland).

As stated in the notification, Kronospan will acquire control over the whole of Pfleiderer Polska by way of purchase of shares.

On preliminary examination, the European Commission finds that the notified transaction could fall within the scope of the Merger Regulation. At the same time, the Commission reserved the right to take a final decision on this issue. The Commission's decision is expected by 22 March this year.

The Commission also invited interested third parties to submit their possible observations on the proposed operation within 10 days of the publication of this notice (23 February 2022).

Kronospan is the largest global producer and supplier of wood-based panels and value-added products derived from their further processing.

Pfleiderer Polska produces and supplies a range of composite wood products and finished surface products.

The parties to the agreement do not disclose details of the transaction.