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EU regulators okay Holcim, Cemex asset deal in Germany
June 5, 2014 / 12:01 PM / 4 years ago

EU regulators okay Holcim, Cemex asset deal in Germany

BRUSSELS, June 5 (Reuters) - European Union antitrust regulators cleared unconditionally on Thursday a German asset swap deal between Swiss cement company Holcim and Mexican peer Cemex.

The European Commission said the deal would not raise competition concerns as there were enough rivals competing with the merged company. Reuters reported on June 4 that the companies would secure EU approval for the deal.

The German asset swap is one side of an agreement that gives Cemex assets in Spain. This second element is now being investigated by the EU watchdog which will decide by Sept. 5 whether to clear it.

The companies unveiled the asset swap in August last year, which will boost Cemex’s footprint in Europe. (Reporting by Foo Yun Chee; editing by Adrian Croft)

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