By Dominic Chopping

STOCKHOLM--Sweden's Assa Abloy AB said Monday it has received clearance from the European Commission to indirectly acquire the 54% shareholding in Agta Record AG from the shareholders of Agta Finance.

Assa Abloy currently owns 39% of Agta Record.

The purchase price for the acquisition amounts to approximately 506 million euros ($599.3 million), equivalent to an adjusted purchase price per Agta Record share of EUR70.54. Assuming all the free float will be tendered to the offer, the total amount paid for the acquisition and the offer amounts to approximately EUR575 million.

The acquisition is expected to close during August.

After the acquisition Assa Abloy will own approximately 93% of the share capital and voting rights of Agta Record.

Separately, Assa Abloy said Monday it has bought Access-IS, a provider of electronic devices that enable the authentication of travel and identity documents, ticket reading and contactless payments.

Access-IS was founded in 1985 and has 120 employees. Its main office is located in Reading, U.K.

Access-IS sales in 2019 amounted to about 19 million pounds ($24.9 million) and the acquisition will be neutral to earnings per share from the start. 



  Write to Dominic Chopping at dominic.chopping@wsj.com