Gränges gets EU approval for Impexmetal aluminum deal
( September 24, 2020, 10:45 GMT | Official Statement) -- MLex Summary: Swedish aluminum producer Gränges has secured EU approval of its plans to buy Polish aluminum flat-rolled products maker Impexmetal. The European Commission concluded that the deal doesn't give rise to competition concerns, because the merged entity would be “constrained by a number of remaining strong competitors that would have the ability and incentive to increase their supply and offer alternatives to customers,” thus avoiding any price rises.Statement follows. Mergers: Commission clears acquisition of Impexmetal by Gränges The European Commission has approved, under the EU Merger Regulation, the acquisition of Impexmetal S.A. of Poland by Gränges AB of Sweden. The activities of Impexmetal and Gränges overlap in the supply of aluminium flat-rolled products (‘FRPs’) and, in particular, of standard FRPs and aluminium FRPs for automotive heat exchangers. The Commission found that the merged entity would be constrained by a number of remaining strong competitors that would have the ability and incentive to increase their supply and offer alternatives to customers, and thus avoid any price increase. The Commission therefore concluded that the proposed acquisition would raise no competition concerns. The operation was examined under the normal merger review procedure. More information will be available on the Commission's competition website, in the public case register under the case number M.9560....
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