Sig

SIG has cancelled the planned sale of its Building Solutions business to Kingspan after concerns were raised by competition watchdogs.

The Competition and Markets Authority (CMA) has launched an investigation into Kingspan’s planned £37.5 million purchase of Building Solutions from SIG.

Specialist building products distributor SIG has agreed to sell its Building Solutions (National) Limited business to Kingspan’s panels division for £37.5 million.

The Financial Reporting Council (FRC) has launched an investigation into financial statements of construction materials supplier SIG. The inquiry centres around the audit by Deloitte of the company’s accounts for the years ended 31 December 2015 and 2016.