May 4, 2020 / 9:46 AM / 24 days ago

Aurubis wins EU approval for Metallo takeover -statement

BRUSSELS, May 4 (Reuters) - Europe’s biggest copper smelter Aurubis won EU antitrust approval on Monday for its planned 380 million euro ($412 million) acquisition of Belgian-Spanish metal recycling group Metallo, the European Commission said.

Confirming a Reuters report from April 28, the Commission said in a statement: “the merger would not adversely affect competition” in the copper recycling sector.

Aurubis agreed in May 2019 to buy Metallo as part of an acquisition-led expansion into other metals. Metallo processes about 220,000 tonnes of scrap and recycling materials a year at its Beerse plant in Belgium and another 95,000 tonnes its plant in Berango, Spain. (Reporting by Robin Emmott)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below