The EU Commission prohibits acquisition of the largest national cement producer by the largest national cement importers due to insufficient divestment to fully eliminate competition concerns (HeidelbergCement / Schwenk / Cemex Hungary / Cemex Croatia)

HeidelbergCement/Schwenk/Cemex Hungary/Cemex Croatia - Cement travelling across borders* In a nutshell: The acquisition of Cemex Croatia would have seen DDC transform from an expanding importer in Croatia into the largest Croatian incumbent, and customers could have no longer benefitted from the competitive pressure from those imports. The remedies proposed were insufficient to clear the transaction as they concerned an uncertain business opportunity for a new competitor. Introduction On 5 April 2017, the Commission prohibited the proposed takeover of Cemex's assets in Croatia and Hungary by building materials companies HeidelbergCement and Schwenk. Two years earlier, Mexican cement producer Cemex group had initiated a process for the sale of its subsidiaries operating in Austria,

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  • Freshfields Bruckhaus Deringer (Brussels)

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Silvia Modet, The EU Commission prohibits acquisition of the largest national cement producer by the largest national cement importers due to insufficient divestment to fully eliminate competition concerns (HeidelbergCement / Schwenk / Cemex Hungary / Cemex Croatia), 5 April 2017, e-Competitions April 2017, Art. N° 86507

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