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EU: EC opens in-depth probe into HeidelbergCement’s buy of Cemex Croatia

By  |  October 11, 2016

The European Commission has opened an in-depth investigation to assess whether the proposed acquisition of Cemex Croatia by HeidelbergCement and Schwenk is in line with the EU Merger Regulation. The Commission has concerns that the proposed takeover may reduce competition for grey cement in Croatia.

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    Commissioner Margrethe Vestager, in charge of competition policy, said: “The Construction sector, like any other sector needs competition. As cement is an essential part of the sector we need to make sure that consolidation does not lead to higher prices for construction companies and ultimately consumers in Croatia.”

    HeidelbergCement and Schwenk plan to acquire, via their joint subsidiary DDC, assets in Croatia and Hungary that currently belonging to Cemex. At the request of the parties, the Commission referred the Hungarian part of the transaction to the Hungarian competition authority. Therefore, the Commission’s investigation focuses only on the acquisition of Cemex’ Croatian assets.

    Full Content: Europa

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