Mergers: Commission clears acquisition of Grupo Condesa by ArcelorMittal and nine financial institutions
European Commission - Daily News
Brussels, 1 February 2016
The European Commission has approved under the EU Merger Regulation the acquisition of joint control over Grupo Condesa of Spain by ArcelorMittal of Luxembourg and Banco Bilbao Vizcaya Argentaria S.A., Banco de Sabadell S.A., Banco Santander S.A., Banco Popular Español S.A., Bankia S.A., Caixabank S.A., Bankinter S.A., Caja Rural de Navarra S. Coop. de Crédito and Kutxabank S.A., all of Spain.
Grupo Condesa produces small welded carbon steel tubes. ArcelorMittal is a global steel and mining company. The Commission concluded that the proposed acquisition would raise no competition concerns, because it would not significantly change the market structure.
(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Carolina Luna Gordo – Tel.: +32 229 68386)
Source: Europa.eu (Copyright European Commission)