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Sat November 27 2021

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EU launches in-depth investigation into Cemex and Holcim deal

24 Apr 14 The European Commission has opened an in-depth investigation to assess whether the planned acquisition of Holcim’s Spanish operations by its Mexican rival Cemex is in line with the EU Merger Regulation.

Both companies are global suppliers of cement and other building materials and the Commission has concerns that the transaction may reduce competition in certain areas of Spain where the two companies' activities overlap. The Commission now has 90 working days, until 5 September 2014, to take a decision.

Cemex intends to acquire sole control over the whole of Holcim's activities in cement, ready-mix concrete, aggregates and mortar in Spain.

The Holcim assets comprise plants and quarries dedicated to the production and supply of cement, aggregates, ready-mix concrete and mortar in Spain.

The Cemex/Holcim assets transaction is linked to two other transactions. Through the first related transaction Cemex intends to acquire control of the whole of Holcim's activities in cement, ready-mix concrete and aggregates in the Czech Republic. This operation has been cleared by the Czech competition authority in March 2014, as it mainly concerns competition on the Czech market.

In another linked transaction, Holcim intends to acquire certain assets of Cemex located in western Germany. The Commission opened an in-depth investigation into that transaction in October 2013, for which the deadline is 8 July 2014.

The Cemex/Holcim assets transaction does not meet the turnover thresholds of the EU Merger Regulation. However, following a referral request from Spain, the Commission agreed to assess the transaction related to Spain.

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