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EU: Almunia predicts months-long review of mega cement merger

By  |  April 10, 2014

After two of the world’s largest cement firms announced plans to merge to create a conglomerate worth nearly $60 billion, European Commissioner Joaquin Almunia offered insight into what the companies can expect from regulatory scrutiny.

According to reports, Almunia said he predicts a phase 2 analysis of the deal between Switzerland-based Holcim and France-based Lafarge, suggesting the case will likely last months.

In all, 15 jurisdictions will need to approve of the deal. Almunia weighed in on the EU’s review of the tie-up at a conference in Greece on Thursday organized by the Hellenic Competition Authority, according to reports.

Full Content: Reuters

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