German Cartel Authority Fines Building Tech Companies; Caverion Unaffected

Germany's Federal Cartel Office (Bundeskartellamt) has issued its final decision in a cartel case against several building technology companies, investigated since 2014. The authority has imposed fines on the remaining companies involved in the probe.

Caverion Deutschland GmbH and its predecessors were mentioned as one of the companies involved during the investigation. However, Caverion reached a full and final settlement with the Bundeskartellamt in June 2018. The company booked the antitrust fine of EUR 40.8 million as an expense in the second quarter of 2018 and paid it in the third quarter of the same year.

As a result of the 2018 settlement, the fines imposed by the German cartel authority have no further financial or legal impact on Caverion. The company had previously disclosed details of the settlement in stock exchange releases in June and July 2018.

The investigation concerned multiple companies operating in the building technology sector in Germany. The authority's decision concludes the investigation for the involved parties, with consequences now directed at companies that did not reach a similar settlement.