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Assa Abloy postpones Spectrum home improvement business acquisition again

Reuters
Updated
FILE PHOTO: An Assa Abloy lock is displayed in a shop in Riga

HELSINKI (Reuters) -Swedish lock maker Assa Abloy on Friday said its planned acquisition U.S.-based Spectrum Brands' home improvement division could be delayed to 2023 due to regulatory concerns, instead of being completed during this year.

The prolonged regulatory process had already postponed the deal in December last year.

The acquisition was announced last year when Assa, the world's biggest lockmaker, said it would pay $4.3 billion for the business.

(Reporting by Essi Lehto, editing by Anna Ringstrom and Stine Jacobsen)