April 10, 2014 / 8:05 AM / in 4 years

EU's Almunia says expects lengthy review of Holcim, Lafarge deal

ATHENS, April 10 (Reuters) - European Union regulators expect to do an extensive review of the proposed merger of Swiss cement producer Holcim with French peer Lafarge , EU antitrust chief Joaquin Almunia said on Thursday.

“Last week the parties informed us of their intention. Now we will receive more detailed information because this should of course be analysed at our level,” Almunia told reporters on the sidelines of a conference organised by the Hellenic Competition Authority in Athens.

“Given the size of the two companies, given that they are the two main players in the European market, yes, it’s clearly a phase 2 analysis,” Almunia said, referring to a lengthy review that could take several months.

The deal, if approved, will create the world’s biggest cement maker, with $44 billion of annual sales. (Reporting by Foo Yun Chee)

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