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Spain: CNMC off with a bang, approving six mergers

By  |  March 6, 2018

Spain’s National Commission of the Markets and the Competition (CNMC) is off to a vigorous start to the year, having authorized six merger operations in January,without condition. The competition watchdog has considered that none of these pose problems for competition in the markets involved, taking into account their structure before and after the operation.

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    On January 10, the acquisition of exclusive control of the companies Panasa and Bellsolá by the Ardian company was authorized. This transaction was notified to the CNMC when the turnover threshold in Spain was exceeded. Likewise, on January 10, the acquisition of exclusive control of Planasa by Cinven, a venture capital company based in Guernsey, active in investment management and in the provision of advisory services to investment funds, was authorized.

    Shortly thereafter, on January 18, the acquisition of exclusive control of the Abelán Board Industrial company by Aurelius was authorized. Aurelius is an investment corporation whose shares are listed on the Munich Stock Exchange. Abelán, based in Villaba (Navarra) is dedicated to the manufacture of paper and cardboard. The same day the regulator authorized the acquisition of Ceske Aerolinie by one of its shareholders, Travel Service. Ceske Aerolinie is the Czech flagship airline, a member of SkyTeam alliance.

    Finally, on January 25, the acquisition of Capresa, a company based in Barcelona, ​​by Sidenor, both dedicated to the metallurgical sector, was authorized in the first phase of review; as well as the acquisition of Fidelio by the Sika company, which operate in the manufacture of vehicle parts and accessories, in addition to participating in other manufacturing industries.

    Full Content: El Economista

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