On May 17, 2019, the French Competition Authority (the “FCA”) unconditionally approved the acquisition of Ascoval by the British Steel group. Ascoval is a steel mill specialized in the production and supply of semi-finished steel products that are necessary for the production of finished steel products. British Steel is a European steel manufacturer that is active in the production of both semi-finished and finished steel products. Given the limited overlap between the Parties’ activities, the FCA did not identify any horizontal or vertical competition concerns arising from the transaction.
FCO Blocks Heidelberger Druckmaschinen’s Acquisition of MBO Group
On May 7, 2019, after an in-depth investigation, the FCO prohibited Heidelberger Druckmaschinen AG’s acquisition of sheet folding machine manufacturer MBO Maschinenbau Oppenweiler Binder GmbH & Co. KG (“MBO Group”).[1] Based on an extensive market investigation, with a particular emphasis on customer feedback, the FCO found that the merger would have created a dominant position for Heidelberger Druckmaschinen AG and significantly impeded competition in the market for the manufacture and distribution of sheet folding machines for industrial printing processes.
The French Competition Authority Considers for the First Time an Overall Market for the Online and Offline Distribution of Toys
The French Competition Authority (the “FCA”) considered online and offline sales of toys as forming part of the same market in the context of its investigation of the merger of toy companies Luderix International and Jellej Jouets. The FCA thus relied once more on the methodology it applied in its Fnac/Darty merger clearance decision, when it concluded to the existence of a single market including both physical and online retail channels for the distribution of consumer electronics.
The Commission Fines General Electric €52 Million For Providing Incorrect Information During Merger Review
On April 8, 2019, the Commission fined General Electric (“GE”) €52 million for providing incorrect information during its 2017 investigation of GE’s acquisition of Danish wind turbine blade manufacturer LM Wind Power Holdings A/S (“LM Wind”).
Ameos Abandons Planned Acquisition of Sana Kliniken Ostholstein
On March 28, 2019, hospital operator Ameos Psychiatrie Holding (“Ameos”) withdrew its notification of the proposed acquisition of the majority
Total Abandons Planned Acquisition of Eleven Gas Stations
On March 26, 2019, Total Germany (“Total”) abandoned its acquisition of eleven gas stations in the Trier area from family-managed
The Commission Approves the Acquisitions of Asco by Spirit Subject to Commitments Addressing Coordinated Effects Concerns
On March 20, 2019, the Commission cleared Spirit’s acquisition of Asco, both being active in the supply of aircraft components.[1] The case raised no vertical or horizontal unilateral concerns. However, the Commission imposed remedies to address coordinated effects in the market for slats and slat systems[2] making this the first such case since Hutchison 3G Italy/WIND/JV in 2016.[3]
Brizard Wine & Spirits/Cofepp
In a decision issued on February 28, 2019, the FCA authorized, subject to conditions, the acquisition of the Marie Brizard Group by Compagnie Financière Européenne de Prises de Participation (Cofepp).[1] Marie Brizard and Cofepp’s businesses overlap on the wine and spirits market. After having ruled out any risk of harm to competition on the on-trade channel (cafés, hotels, restaurants, etc.), the FCA examined the effects of the transaction on the mass retail channel.
FCO Clears RWE’s Acquisition Of A Minority Stake In E.ON
On February 26, 2019, the FCO approved RWE AG’s (“RWE”) acquisition of a minority stake of 16.67% in E.ON SE (“E.ON”).[1] The acquisition is part of a complex share and asset swap deal between the two energy companies. Following the share and asset swap, E.ON will focus on the distribution and retail of electricity and gas, whereas RWE will be primarily active in upstream electricity generation and wholesale markets.
The Commission Sends its First Statement of Objects for an Alleged Breach of Merger Commitments
On July 2, 2014, the Commission conditionally cleared Telefónica Deutschland’s acquisition of E-plus, KPN’s German mobile telecommunications business, which combined the third and fourth largest mobile network operators in Germany. The acquisition was characterized as a 4-to-3 merger resulting in three mobile operators of a similar size.[1]