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Spain: EU says cement buyout not yet set in stone

By  |  October 18, 2013

The European Commission announced Friday it would pursue a look into the planned acquisition of cement firm Holcim by its rival Cemex in Spain, according to reports.

Holcim, a Switzerland-based company, and Cemex, headquartered in Mexico, are the globe’s largest cement companies. Their market position has reportedly sparked concern within the European Commission.

In a statement, the Commission said the deal “threatens to impact competition” in the Spanish market.

The regulator has now asked Cemex to submit a formal merger notification.

In a separate matter, Cemex has submitted to the Commission notifications for deals to acquire assets within Germany, France and the Netherlands.

Full content: Europe Online

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