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EU's Vestager to announce two merger decisions at noon
April 5, 2017 / 8:42 AM / 8 months ago

EU's Vestager to announce two merger decisions at noon

BRUSSELS (Reuters) - EU antitrust chief Margrethe Vestager will hold a news conference at noon, where she is expected to approve ChemChina’s [CNNCC.UL] bid for Syngenta and block a Croatian deal by Germany’s HeidelbergCement and Schwenk.

FILE PHOTO: European Competition Commissioner Margrethe Vestager holds a news conference at the EU Commission's headquarters in Brussels, Belgium March 13, 2017. REUTERS/Francois Lenoir

Vestager will start her news conference at 1000 GMT, the European Commission said in a statement, without providing details.

ChemChina will likely gain EU approval for the largest foreign acquisition by a Chinese company after agreeing to sell a couple of national product registrations in more than a dozen EU countries, sources told Reuters in February.

A joint bid by German cement producers HeidelbergCement and Schwenk for Mexican company Cemex’s Croatian business is expected to be rejected after the companies failed to convince regulators of the merits of the deal, other people told Reuters last month.

The Commission’s deadline for the ChemChina deal is April 12 and April 18 for the HeidelbergCement bid. The EU competition enforcer typically announces decisions for complex cases ahead of schedule.

Reporting by Foo Yun Chee

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