HeidelbergCement and Schwenk have reportedly lost their challenge of the European Commission’s antitrust veto of their joint bid for Cemex’s Croatian operations, after Europe's second-highest court backed the decision.
The European Commission said in its 2017 ruling that the companies' offer to grant competitors access to a cement terminal in southern Croatia was not sufficient to address competition concerns that the deal would push up cement prices in Croatia.
The companies subsequently appealed to the General Court, which has now dismissed their arguments and lawsuit.
