EU to block HeidelbergCement, Schwenk's Cemex Croatia deal

European Union antitrust regulators have blocked a joint bid by HeidelbergCement and Schwenk for Cemex's Croatian business after the companies failed to address competition concerns.

The Commission said the companies' proposal to grant rivals access to a cement terminal in southern Croatia was not sufficient as it only offered a competitor access to a storage facility without existing customers, brands or established access to cement.

Europe's antitrust regulator has reportedly objected to Cemex's plan to acquire Holcim's Spanish units, according to person familiar with the matter, denting the Mexican cement producer's hopes of getting EU approval without concessions, Reuters news agency writes.

Cemex and Holcim unveiled the deal in August 2013, part of which included the Swiss-based peer taking over Cemex's German businesses. The European Commission cleared this deal unconditionally earlier this month. But the Spanish part triggered

Cemex will secure unconditional European Union antitrust approval for its planned acquisition of Swiss peer Holcim's Spanish units, Reuters reports a person familiar with the matter saying. The European Commission, the EU executive, voiced objections to the deal last month, another source had told Reuters, increasing pressure on Cemex to offer concessions to allay its concerns.