CASE COMMENTS: MERGERS - PHASE I – TRANSFER OF ASSETS - COMMITMENTS – "UPFRONT BUYER"

Phase I - Clearance : The European Commission clears in phase I the acquisition of a French cement operator by its German competitor, subject to disinvestments in several European countries as both companies are major producers of cement, ready-mixed concrete, aggregates and another construction materials on the global scale (Holcim/Lafarge)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. The proposed transaction between the French group Lafarge and the Swiss group Holcim will enable the new entity to become the world's largest cement manufacturer, present in more than 90 countries worldwide. The Commission considered that the transaction could harm competition because of overlaps leading to very high market shares in a number of local markets. To address the risks identified by the Commission, the parties undertook to divest certain assets in order to reduce the market share of the new entity to an acceptable level. The Commission has also prohibited the parties from implementing the transaction until it has approved the buyers of the

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Authors

  • Herbert Smith Freehills (Paris)
  • Herbert Smith Freehills (Paris)

Quotation

Sergio Sorinas, Marie Louvet, Phase I - Clearance : The European Commission clears in phase I the acquisition of a French cement operator by its German competitor, subject to disinvestments in several European countries as both companies are major producers of cement, ready-mixed concrete, aggregates and another construction materials on the global scale (Holcim/Lafarge), 15 December 2014, Concurrences N° 3-2015, Art. N° 75081, pp. 125-127

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