A PYMNTS Company

EU: Aurubis positive on copper deal despite regulator concerns

By  |  August 2, 2018

According to Reuters, Europe’s biggest copper smelter Aurubis stated it is confident its plan to sell its flat rolled copper products unit to Germany’s Wieland-Werke AG will be approved despite EU antitrust regulators on Wednesday, August 1, saying the deal may hurt competition.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The European Commission on Wednesday opened an in-depth investigation to examine the impact of the deal on the companies’ customers and consumers. It will decide by December 10 whether to clear the takeover.

    “We remain optimistic that the sale to Wieland will be approved in the second phase of the EU’s competition examination,” a spokeswoman for Aurubis told Reuters. “It is not unusual for the EU to initiate the second review phase because they need more time for the examination.”

    In July, the European Commission also opened a full-scale investigation into German copper producer KME’s purchase of German copper products producer Mansfelder Kupfer und Messing.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.