Skip to main content

HeidelbergCement appeals decision to review Croatia acquisition

Published by
World Cement,


HeidelbergCement has appealed against a European Commission decision to open an in-depth investigation into the acquisition of Cemex Croatia by Duna Dráva Cement (DDC), a company jointly owned by HeidelbergCement and Schwenk Zement, an Ulm-based cement maker.

A leading Hungarian building materials producer and largest cement importer into Croatia, DDC announced in 2015 that it had reached agreement to buy the Cemex operations in Croatia for €230.9 million.

The sale included three cement plants, two quarries and seven ready-mixed concrete plants across Croatia, Bosnia & Herzegovina, Montenegro and Serbia.

On 10 October 2016, however, the European Commission initiated an investigation into the acquisition on the grounds that the transaction had a “Union dimension”, which granted it jurisdiction to review the deal.

According to Heidelberg Cement, this conclusion was based on an incorrect reading of the relevant regulations and the commission therefore lacks the competence to review the transaction.

Read the article online at: https://www.worldcement.com/europe-cis/27022017/heidelbergcement-appeals-decision-to-review-croatia-acquisition/

You might also like

 

 WCT2021

WCT2021

At WCT2021 you will hear from a range of industry leaders and technical experts as they discuss the key challenges facing the cement industry and the latest solutions on offer. Register for free today »

 

Hanson shares 2021 Sustainability Report

Hanson’s 2021 sustainability report highlights the company’s 2030 commitments and the progress made during the 2020 calendar year, despite the unprecedented challenges brought about by COVID-19.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Heidelberg Cement news European cement news