The European Commission said it granted conditional clearance to the proposed acquisition of Maxit Holding AB of Sweden by Compagnie de Saint-Gobain of France.
The commission said its approval is conditional on the divestment of two subsidiaries of Maxit which are active in the production and sale of gypsum-related products.
’The commitments submitted by the parties will ensure that customers depending on the use of gypsum-related products, such as the cement or the ceramics industry, can still rely on a competitive market for their inputs,’ EU competition commissioner Neelie Kroes said.
Saint-Gobain is active in the production of glass, ceramics, plastics and building materials, such as mortars and gypsum products. It is also active in the distribution of building materials.
Maxit, which is currently owned by HeidelbergCement Group, is active in the production of mortars and gypsum- products.