Anthony Locicero, Associate editor05.21.21

PPG announced that it has received regulatory approval from the Federal Antimonopoly Service of Russia for the completion of its tender offer for all of the shares of Tikkurila.

With this approval, PPG has received all required regulatory approvals for completion of the tender offer and has announced that the tender offer will expire on June 4, 2021. 

PPG expects to complete the tender offer and close the transaction on or about June 10, 2021.
 
As previously announced, the European Commission, the Ministry of Economic Affairs and Employment of Finland, and the Agency for Protection and Development of Competition of the Republic of Kazakhstan have each granted approval of the tender offer. The European Commission’s merger control approval applies without conditions across the European Union, including Poland.
 
Completion of the tender offer remains subject to the valid tender of shares representing, together with shares otherwise held by PPG and its subsidiaries, more than 66.7% of the outstanding shares of Tikkurila, and additional customary conditions to completion.  PPG expects that all conditions to the completion of the tender offer will be fulfilled at the tender offer expiration date of June 4, 2021.

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