PPG announced that the European Commission has granted unconditional approval of PPG’s acquisition of Tikkurila’s shares.

PPG stated that the approval is an important milestone in the process and further enhances the certainty of completing the transaction.

The transaction remains subject to additional customary conditions to completion and other regulatory approvals.

The tender offer is currently scheduled to expire on March 15, 2021. The company will provide additional updates at that time. PPG currently expects to close the transaction in the first quarter or early in the second quarter of 2021.

Tikkurila is a leading producer and distributor of decorative paint and coatings with more than 80% of its revenue coming from Finland, Sweden, Russia, Poland, and the Baltic states.