EU Gives Provisional Approval to Saint-Gobain Purchase of HeidelbergCement's Maxit Unit

European Union regulators gave conditional clearance Tuesday for the purchase of HeidelbergCement AG's industrial mortar-making unit Maxit by France's Compagnie de Saint-Gobain SA.

The European Commission says Maxit must sell two subsidiaries active in the production and sale of gypsum-related products to get final antitrust approval of the euro2.13 billion (US$3.24 billion) deal.

EU regulators said the merger, if unchanged, would have posed competition problems in the European market, notably for producers of gypsum, which is used in the production of cement, ceramics and plasters. The two subsidiaries also make premix mortars used in masonry and tile fixing, but the EU said the deal posed no real competition concerns in that sector.

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600450 EU Gives Provisional Approval to Saint-Gobain Purchase of HeidelbergCement's Maxit Unit
Date: 17 March 2008
Source: Saint-Gobain SA

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