BRUSSELS, Sept 9 (Reuters) - European Union antitrust regulators approved on Tuesday Mexican cement producer Cemex’s proposed takeover of Swiss rival Holcim’s Spanish units, saying the deal would not reduce competition in Spain.
The European Commission opened an investigation in April, worried the acquisition could curb competition and also facilitate illegal collusion between grey cement producers in Spain.
The probe showed that this would not be the case, absolving the companies from requiring to make concessions.
“The Commission concluded that the acquisition would not raise competition concerns since the merged entity will continue to face sufficient competition from its rivals in all markets concerned,” the EU competition watchdog said in a statement.
Reuters reported on Aug. 4 that the deal, part of an exchange of assets between Cemex and Holcim, would be cleared unconditionally. [ID:nL6N0QA44R}
Holcim and French peer Lafarge are now in informal talks with the Commission on their planned merger to create the world’s largest cement producer. (Reporting by Foo Yun Chee; editing by Robin Emmott)