EC clears acquisition of Maxit by Saint-Gobain, subject to conditions, after a Phase I investigation
The European Commission has cleared Saint-Gobain's acquisition of the Maxit Group in Phase I, subject to divestments.
Both parties are active in the manufacture of mortars and gypsum-related products and in the sale of external insulation systems (ETICS) in many European countries. Saint-Gobain also owns a building material distribution network.
The Commission's investigation ruled out concerns of horizontal and vertical effects arising in the mortar, ETICS and distribution markets as a result of the transaction. However, it raised serious concerns in the gypsum-related markets, where the parties would have enjoyed a monopoly or near monopoly position. The EC therefore cleared the transaction subject to the divestment of Maxit's gypsum subsidiaries (SHG and Maxit Baustoffe).
A team from CRA International's London and Brussels office, led by Andrea Coscelli and Pascale Déchamps and including Grant Saggers and Samuel McSkimming, assisted Saint Gobain throughout the European Commission proceedings.
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