Varðin to take over Grant following competition authority approval

The Faroese Competition Authority has announced that Varðin will proceed with its planned acquisition of Grant, a local manufacturer of windows and doors, according to a report by Faroese broadcaster Kringvarp Føroya.

The takeover will be executed by reducing the existing share capital in Grant before issuing new shares to Varðin. The Competition Authority has requested any objections to the acquisition be submitted by 1 April.

Grant specialises in the production of windows and doors.