April 5, 2017 / 9:57 AM / 9 months ago

EU regulators block HeidelbergCement, Schwenk's Croatian deal

BRUSSELS, April 5 (Reuters) - EU antitrust regulators blocked on Wednesday a joint bid by German cement producers HeidelbergCement and Schwenk for Cemex’s Croatian business after the companies failed to address competition concerns.

The European Commission said the companies’ proposal to grant rivals access to a cement terminal in southern Croatia was not sufficient, confirming a Reuters story on March 28.

“We had clear evidence that this takeover would have led to price increases in Croatia, which could have adversely affected the construction sector. HeidelbergCement and Schwenk failed to offer appropriate remedies to address these concerns,” European Competition Commissioner Margrethe Vestager said in a statement. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)

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