EC expected to approve Holcim's deal to buy Cemex’s German operations

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Germany: The European Commission (EC) is expected to give the green light to Holcim's planned acquisition of Cemex's German operations without conditions, according to Reuters, which cited two knowledgeable sources.

The transaction is part of several interconnected deals between the companies that were agreed in August 2013. The EC is currently examining the agreement to determine whether it could threaten competition and prompt price hikes. Its decision is due by 8 July 2014.

Under the terms of the agreement, Cemex will combine its cement, ready-mix and aggregates operations in Spain with those of Holcim and will hold a 75% stake in the enlarged firm. In addition, Cemex will take over Holcim's operations in the Czech Republic. Holcim will spend a total of Euro70m in cash on the deals.

In April 2014 the EC started an in-depth probe into Cemex's deal with Holcim in Spain and is due to unveil its decision until 5 September 2014. The local anti-trust watchdog approved the transaction in the Czech Republic in March 2014.

URL: https://globalcement.com/news/item/2563-ec-expected-to-approve-holcims-deal-to-buy-cemex%E2%80%99s-german-operations

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