European Commission antitrust regulators are expected to block a HeidelbergCement and Schwenk joint bid for Cemex's Croatian cement works, Reuters reports insiders as saying.
The European Commission competition authority previously said the deal may eliminate a significant player in a concentrated regional market and so boost Cemex Croatia's market power in southern Croatia. This could lead to price hikes in grey cement.
HeidelbergCement and Schwenk plan to buy Cemex Croatia through the Hungarian joint venture, Duna Drava Cement. The deal is worth some $200m.
Duna Drava Cement is the largest importer in the area and Cemex Croatia is the largest producer.
