The Swedish Competition Authority’s (“SCA”) intervention in Assa Sverige AB’s (“Assa Sverige”) proposed acquisition of Prokey AB (“Prokey”) has resulted in the parties cancelling the concentration. The SCA has accordingly also withdrawn its action filed with the Stockholm District Court, requesting the latter to prohibit the planned acquisition. Assa Sverige is part of the international Assa Abloy –group, active in developing, manufacturing and marketing different security products and door solutions. Prokey is a wholesaler of security products to locksmiths and other security products installers. In January 2013, the SCA ordered that the acquisition was to be notified even though the relevant turnover thresholds were not met, on the grounds of Assa Abloy –group’s considerable position in manufacturing and wholesale. In April 2013 the SCA initiated an in-depth investigation into the proposed acquisition which showed that the implementation of the concentration would substantially prevent competition on the Swedish wholesale market of services to locksmiths. According to the SCA, the acquisition would have resulted in decreased supply and higher prices charged to companies delivering locksmiths’ services and that it thereby would ultimately have been to the detriment of consumers. Source: The Swedish Competition Authority’s Press Release 23/9/2013 and action filed with the Stockholm District Court (docket number 437/2013)