EU approves of Cemex merger


EU antitrust regulators cleared a bid by Holcim for Cemex's western German plants plus sites in France and the Netherlands. The European Commission's probe "found that the merged entity will continue to face competition from a number of competitors", the regulator said yesterday in a statement.

The transaction was "unlikely" to result in making any potential co-ordination easier to a degree that would raise competition concerns, the commission said. The EU regulator, after opening an in-depth probe last year, did not demand any concessions from the companies. Holcim and Cemex did not respond to requests for comment. The EU clearance comes after Holcim and Lafarge announced plans to create the world's biggest cement maker. Holcim faces another in-depth probe from European regulators over the sale of Spanish assets to Cemex. - Bloomberg