European Commission gives green light to HeidelbergCement's Italcementi acquisition

HeidelbergCement has received clearance from the European Commission for the acquisition of Italcementi. The European authority accepts the proposed divestment of operations in Belgium, i.e. Italcementi’s local subsidiary Compagnie des Cements Belges SA (CCB), to avoid anti-competition issues in Europe.

“We are very pleased with the positive decision of the European Commission”, says Dr Bernd Scheifele, chairman of the Managing Board of HeidelbergCement. “This decision is an important milestone on our way to the full acquisition of Italcementi.”

The divestment process for the assets in Belgium has already started with significant interest in the fully vertically-integrated market positions already been recorded. The divestment process will be carried out in the framework of the relevant social processes and ongoing dialogue with the employee representatives’ bodies, said the company in a statement.

Meanwhile, the decision of the US regulator, the Federal Trade Commission, is still pending, but is expected in early June. HeidelbergCement will be looking to divest cement plants and terminals in markets with the highest Lehigh Hanson and Essroc overlap – Indiana, Maryland, upstate New York and Virginia – to meet anti-competition requirements. Earlier in the month, the Competition Bureau of Canada had approved the merger.