By Foo Yun Chee BRUSSELS, Dec 2 (Reuters) - Irish building materials maker Kingspan sought on Tuesday to counter EU charges of providing misleading information during its proposed bid for Slovenian
Kingspan Defends Against EU Antitrust Charges at Hearing
By Foo Yun Chee
BRUSSELS, Dec 2 (Reuters) - Irish building materials maker Kingspan sought on Tuesday to counter EU charges of providing misleading information during its proposed bid for Slovenian rival Trimo at a closed-door hearing that could affect whether it gets a fine.
The hearing attended by senior competition officials and lawyers at the European Commission came more than a year after EU regulators accused Kingspan of intentionally or negligently submitting incorrect and misleading information on its internal organisation.
Kingspan, which has said it disagreed with the regulators' charges, could face a fine of up to 1% of its annual worldwide turnover if found guilty of breaching European Union merger rules.
EU regulators have in recent years taken a tough line against companies for similar offences and handed out hefty fines.
Kingspan subsequently dropped the Trimo deal because the deal was time bound. A source familiar with the matter, however, said an EU veto was imminent after the Irish company declined to offer remedies to address competition concerns.
The Commission is expected to decide on the case next year.
(Reporting by Foo Yun Chee; Editing by Emelia Sithole-Matarise)
