German building materials giant HeidelbergCement has received clearance from the European Commission for the acquisition of Italcementi. The proposed divestment of operations in Belgium, primarily consisting of Italcementi’s Belgian subsidiary Compagnie des Ciments Belges (CCB), which addresses the competition concerns in Europe, was accepted by the European Commission. The decision of the US regulator FTC is still pending.
May 26, 2016
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German building materials giant 674 HeidelbergCement has received clearance from the European Commission for the acquisition of Italcementi. The proposed divestment of operations in Belgium, primarily consisting of 726 Italcementi’s Belgian subsidiary Compagnie des Ciments Belges (CCB), which addresses the competition concerns in Europe, was accepted by the European Commission. The decision of the US regulator FTC is still pending.
“We are very pleased with the positive decision of the European Commission,” said Dr. Bernd Scheifele, chairman of the managing board of HeidelbergCement. “This decision is an important milestone on our way to the full acquisition of Italcementi.”
The divestment process for the Italian firm Italcementi’s assets in Belgium has already started and significant interest in the fully vertically integrated market positions in Belgium has already been recorded. The divestment process will be carried out in the framework of the relevant social processes and ongoing dialogue with the employee representatives’ bodies.
