The proposed Arcadis takeover of Hyder has cleared another hurdle after the German competition regulator said it would not block the deal.
In a statement, the Dutch-headquartered consultant said it had “received notice from the Bundeskartellamt that the acquisition is not prohibited and so may be put into effect”.
Arcadis increased its offer for Hyder to £296M two weeks ago, after facing competition from Japanese outfit Nippon Koei.
The firm hopes to complete the deal by 16 October.
Arcadis chief executive Neil McArthur (pictured) told NCE last month that the acquisition was driven by the growth prospects in Hyder’s core markets.
“In the UK, over the next four to five years, there is annual growth of 5% to 7% predicted,” he said. “And annual of growth of 8% to 10% in the Middle East.”