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EU: Commission clears acquisition of IXM by CMOC

By  |  July 1, 2019

The European Commission has approved, under the EU Merger Regulation, the acquisition of IXM of the Netherlands by CMOC Limited, a wholly owned subsidiary of China Molybdenum Co. Ltd (CMOC), of China.

IMX is a global trader that sells base metal concentrates and refined metals, such as copper, and by-products, (such as blister precious metal concentrates and cobalt. CMOC is active in mining, processing, smelting, deep processing, research and development, and trade of copper, gold, and other precious metals.

The companies’ activities overlap and have vertical links in relation to the sale of copper concentrate, refined copper, secondary copper products, and gold concentrate.

The Commission concluded that the proposed acquisition would raise no competition concerns given the companies’ low combined market shares and the presence of a number of stronger players in these markets.

The transaction was examined under the simplified merger review procedure.

Full Content: Financial Times

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