The European Commission Thursday suspended its antitrust review of French investment firm Wendel Investissement’s (12120.FR) planned takeover of building materials company Groupe Materis. A Commission official said the review was suspended because the companies haven’t responded to a request for further information about the deal. The official declined to describe details of the request.
Wendel Investissement plans to buy Groupe Materis for EUR1.02 billion from private equity group LBO France. LBO France bought the company for EUR1.1 billion in 2003 from French construction giant Lafarge SA (LR). Groupe Materis specializes in paints, mortar, and strengthening agents for concrete and cement. The company has annual sales of roughly EUR1.5 billion (Dow Jones newswires).
