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EU: HeidelbergCement, Schwenk Cemex Croatia deal faces veto

By  |  March 28, 2017

EU antitrust regulators are set to block German cement producers HeidelbergCement and Schwenk’s joint bid for Mexican peer Cemex’s Croatian unit barring a last minute change of mind, two people familiar with the matter said on Tuesday.

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    The European Commission, which opened an investigation into the deal in October last year, has not been convinced so far by the companies’ offer to lease a terminal on the Dalmatian coast to a rival to address its concerns, the sources said.

    The EU competition authority has said the deal may eliminate a significant player in a concentrated regional market, boost Cemex Croatia’s market power in southern Croatia and lead to price hikes in grey cement.

    Full Content: Daily Mail

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