The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Condesa Tubos, S.L. of Spain (‘Condesa’), by ArcelorMittal Aceralia Basque Holding, S.L. of Spain, ultimately controlled by ArcelorMittal, S.A. of Luxembourg (‘ArcelorMittal’). Condesa is a manufacturer of different types of small welded carbon steel tubes and operates three sites in Spain and one site in Germany. Arcelor Mittal is active in mining, manufacturing and the distribution of various steel products to the automotive, construction, energy, packaging, appliances, mining and by-products industries. The Commission concluded that the proposed acquisition would raise no competition concerns, given that ArcelorMittal already exerts joint control over Condesa and the companies’ combined market shares are moderate.
The transaction was examined under the simplified merger review procedure.
- Date de publication
- 12 octobre 2021