A PYMNTS Company

Spain: Commission throws wrench in Cemex, Holcim deal

 |  July 11, 2014

Switzerland’s Holcim and Mexico’s Cemex have reportedly received a new obstacle in their efforts to merge.

Unnamed sources said Friday that the European Commission has sent a statement of objections to the companies regarding the deal over concerns the buyout would lead to lessened competition in the Spanish market.

EU regulators had been investigating the matter since April, reports say, and preliminary findings found evidence the transaction would reduce competition in certain markets in Spain.

Holcim is planning to acquire Cemex ahead of its larger merger with France’s Lafarge.

Full content: Reuters

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