Accoring to reports, EU antitrust regulators have approved Cemex’s proposed purchase of Holcim’s Spanish assets. The acquisition will see Cemex acquire all of Holcim's activities in cement, ready-mix concrete, aggregates and mortar throughout the country.
The European Commission opened an investigation into the deal in April 2014. The assessment took into account the specific characteristics of the cement industry in some areas of Spain, including the high level of concentration, high entry costs, the importance of commercial and structural links between firms and the level of transparency of cement prices and output. The Commission has concluded that the acquisition would not raise competition concerns, as the merged business will continue to face sufficient competition from its rivals in all markets concerned.
The proposed Lafarge-Holcim merger has resulted in a series of sales between Holcim, Lafarge and other European cement players. The sale of Holcim’s Spanish assets will bring the companies closer to the US€5 billion sales target set to satisfy the competition authorities.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/europe-cis/10092014/cemex-given-green-light-to-purchase-holcims-spanish-assets-454/