Britain’s competition regulator on Thursday approved tile retailer Topps Tiles’ 9-million-pound ($12 million) acquisition of CTD Tiles after it accepted remedies proposed by the companies.
Last month, the Competition and Markets Authority (CMA) said the tile retailer had offered to divest four stores where it had raised competition concerns, and indicated it may green-light the purchase of the other 26 stores that were part of the deal.
In a separate statement, Topps Tiles acknowledged the CMA’s decision and said the sale of the four stores would be completed in the coming months.
Source: Reuters.com