BRUSSELS, March 19 (Reuters) - EU antitrust regulators on Tuesday charged Irish insulation maker Kingspan with providing incorrect and misleading information during its proposed acquisition of Slovenian rival Trimo in 2021, putting it at risk of a hefty fine.
The European Commission said it had sent a statement of objections setting out its concerns to Kingspan.
"The Commission takes the preliminary view that Kingspan intentionally, or negligently, provided incorrect, incomplete and misleading information with respect to basic facts related to Kingspan's internal organisation," the EU competition enforcer said in a statement.
It said incorrect and incomplete information was also provided on the scope of the relevant product and geographic market, the existence of barriers to entry and expansion, the importance of innovation and the closeness of competition between Kingspan and Trimo and vis-à-vis their competitors.
The company, which subsequently abandoned the Trimo deal in the face of an EU veto, could face a fine up to 1% of its annual worldwide turnover if found guilty of breaching EU merger rules. (Reporting by Foo Yun Chee)
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