EU Halts Review of MMG’s Bid for Anglo American’s Brazilian Nickel Assets

Per a statement from a Commission spokesperson, the review process can be halted when companies involved in a merger fail to deliver key information needed for the EU’s competition assessment within the required deadline. “The ‘clock’ in merger investigations can be suspended if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them (for its competition assessment) within a prescribed deadline,” the spokesperson said. The spokesperson added that the timeline resumes only after regulators receive the outstanding details: “Once the missing information is supplied by the parties, the clock is restarted and the legal deadline for the Commission’s decision is then adjusted accordingly.”

The Commission has previously signaled apprehension about the deal, warning earlier this month that the transaction could allow MMG to reroute ferronickel away from European markets. According to a statement from the regulator, such a shift could disadvantage European steelmakers at a time when governments are increasingly concerned about stable access to essential minerals and China’s strong position in global mineral supply chains.

MMG, a Hong Kong–listed mining and metals producer, counts China Minmetals Corporation (CMC), a state-owned enterprise, as its largest shareholder.

Source: Reuters