EU commission authorises investigation into Holcim-Cemex deal
The European Commission has authorised anti-trust regulators to investigate the planned acquisition of cement giant Holcim's Spanish operations, by Mexican cement company Cemex.
In a press release issued on Friday, the Commission asserted the deal could threaten competition in the Spanish cement market. The Commission will ask Cemex to notify the project.
The acquisition of Holcim's Spanish operations did not meet the turnover thresholds of the EU Merger Regulation. The Commission has to be noted about mergers that have an EU dimension. The request for the investigation was submitted by Spain under article 22(1) of the EU Merger Regulation.
The Commission agrees with Spain that it is best placed organisation to deal with the transaction:
The Commission believes that it is the authority best placed to deal with the cross-border effects of the deal.
The acquisitions between the two company's are not all one way, with Holcim seeking to acquire Cemex assets in Germany, France and the Netherlands.