EU Commission approves Saint-Gobain's purchase of Sika

The European Commission said on Thursday it had approved the acquisition of Swiss chemicals company Sika by French building materials maker Saint-Gobain.

The Commission, which rules on antitrust issues in the European Union, said that the proposed acquisition would not raise competition concerns given the companies' moderate market sizes and a large number of competitors in the manufacturing industry.In December, the SWH holding of the Burkard-Schenker family, which controls Sika with a 16.1 percent stake and 52.4 percent of voting rights, agreed to sell control of the chemicals company to Saint-Gobain for 2.75 billion Swiss francs ($2.88 billion).Read more below.The European Commission said on Thursday it had approved the acquisition of Swiss chemicals company Sika by French building materials maker Saint-Gobain.  

The Commission, which rules on antitrust issues in the European Union, said that the proposed acquisition would not raise competition concerns given the companies' moderate market sizes and a large number of competitors in the manufacturing industry.

In December, the SWH holding of the Burkard-Schenker family, which controls Sika with a 16.1 percent stake and 52.4 percent of voting rights, agreed to sell control of the chemicals company to Saint-Gobain for 2.75 billion Swiss francs ($2.88 billion).

Read more below.

600450 EU Commission approves Saint-Gobain's purchase of Sika glassonweb.com
Date: 24 July 2015
Source: www.reuters.com

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