Press Release: Mergers – Commission clears the creation of a joint venture by ELG Haniel and Iberinox

The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by ELG Haniel GmbH of Germany and Iberinox 88 S.A. of Spain. The joint venture will be active in the trade of raw materials for the steel industry. ELG Haniel and Iberinox are both active worldwide in the trade of raw materials for the steel industry. Following the transaction, the joint venture will take over Iberinox’ business with the exception of the activities of its subsidiary Acerec, which will continue its current business unaffected by the proposed concentration. The Commission concluded that the proposed acquisition would raise no competition concerns given the limited market shares of the parent companies. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.8606(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Maria Sarantopoulou – Tel.: +32 229 13740)

Source: European Commission

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