EU approves HeidelbergCement´s deal to buy Italcementi
But HeidelbergCement´s commitment to shed Italcementi´s business in Belgium, where the two companies´ activities have ´substantial overlaps´ and would have had a combined market share above 50 per cent, addresses those concerns, the EU added.
´I welcome the proposed commitments as they will ensure that HeidelbergCement´s multibillion euro takeover of Italcementi will not harm effective competition,´ said EU Antitrust Chief Margrethe Vestager.
The deal, announced last July, would create the world´s second-biggest producer of cement and the third-largest in ready-mix concrete, according to HeidelbergCement.
Source: BUSINESS STANDARD