April 23, 2014 / 2:17 PM / 4 years ago

EU opens investigation into Cemex-Holcim deal in Spain

BRUSSELS, April 23 (Reuters) - The European Commission said on Wednesday it is investigating plans by Mexican cement company Cemex to buy the Spanish operations of its Swiss rival Holcim because of competition issues.

“The Commission has concerns that the transaction may reduce competition in certain areas of Spain where the two companies’ activities overlap,” the EU executive said in a statement.

Cemex, one of the world’s largest cement companies, is seeking to buying Holcim’s Spanish plants, part of a deal to exchange assets and combine others to deal with tough conditions in the European construction sector.

The Commission has until Sept.5 to decide. (Reporting by Robin Emmott; editing by John O‘Donnell)

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