(Finance) – The Competition and Market Guarantor Authority (AGCM) has the start of the investigation was decided towards the companies Alpacem Cementi Italia, Alpacem Calcestruzzi Italia, Buzzi and its subsidiaries Buzzi Unicem and Unicalcestruzzi.
The Antitrust intervention concerns thedirect purchase of exclusive control of Fanna Cementi, owner of a cement production plant located in Fanna, by virtue of a purchase and sale contract signed with Buzzi Unicem; and the indirect acquisition, through the subsidiary Alpacem Calcestruzzi Italia, of exclusive control of company branches consisting of sixteen plants of concrete production, located in the provinces of Udine, Pordenone, Gorizia and Venice, by virtue of a long-term rental contract for company branches signed with Unicalcestruzzi, owner of the plants involved.
Alpacem Cementi Italia is active in the production and sale of cement in Italy and, through its subsidiary Alpacem Calcestruzzi Italia, is also active in the sale of concrete. Alpacem Cementi Italia is controlled by Wietersdorfer Alpacem, a limited liability company under Austrian law, which holds 75% of its share capital. The remaining 25% non-controlling shareholding is held by Buzzi.
The Fanna plant is a business unit of Buzzi Unicem consisting of a cement production plant and other assets. Buzzi Unicem will establish a new company, Fanna Cementi, which will be given the Fanna plant and three quarries in the province of Pordenone as well as permits and contracts with suppliers and customers and with the employees who work at the plant and the quarries. Subsequently, Buzzi Unicem will sell 100% of Fanna Cementi shares to Alpacem Cementi Italia. Therefore, post merger, Alpacem Cementi Italia will exercise exclusive control over the Fanna plant.
The Antitrust considered that the two operations communicated jointly, i.e. the rental contract of the RMC plants and the acquisition of the Fanna plant, must be considered part of the same operation pursuant to the European Commission Communication on the control of concentrations between undertakings . The AGCM therefore held further investigation is necessary investigation since it cannot be ruled out that the transaction in question is likely to significantly impede competition effective, also due to the creation or strengthening of a dominant position, in the market for the sale and marketing of cement and in the vertically linked markets of clinker and concrete.