In July, following an investigation by the European Commission merger authority, Industri Kapital, a Scandinavian venture capital group, was given clearance to continue with its acquisition of Dyno, a Norwegian chemicals and explosives company. Although, outside the industry, this may not be considered newsworthy in itself, what is interesting is that Industri Kapital was only given the go-ahead subject to divestiture, which is unusual for venture capital groups. The principal concern of the the timber processing industry in Finland was that, as Industri Kapital was already dominant in the supply of formaldehyde and production of resin in Finland, the acquisition of Dyno would lead to a virtual monopoly in these areas.
August 31, 2000