EU clearance for Cemex deal with Holcim
By Neill Barston11 September 2014
The European Commission has given clearance for Mexican cement firm Cemex to proceed in buying the Spanish operations of the Swiss-based Holcim group.
This includes the purchase of a range of aggregates, quarrying and cement production facilities - which the commission concluded did not contravene EU merger regulations.
An in-depth investigation was launched in April of this year, which dispelled initial concerns that effectively removing Holcim as a competitor to Cemex with Spain would lessen contracting competition in the country.
Permission for the deal to progress follows Holcim’s purchase of German cement facilities owned by Cemex, and a further sale involving the two firms in the Czech Republic.
The latest move from Cemex in Spain comes amid a multi-billion proposal for Holcim to merge with the Lafarge construction group.
This deal has reportedly yet to be placed before the EU for examination as to whether it meets competition laws.