EU Court Tosses Appeal Of Blocked Croatian Cement Deal
Law360, New York (October 5, 2020, 9:48 PM EDT) -- A European court on Monday tossed an appeal from HeidelbergCement and Schwenk of a 2017 decision blocking their planned acquisition of Cemex's assets in Croatia over concerns about the supply of cement in the country.
HeidelbergCement AG and Schwenk Zement KG were trying to flip a European Commission decision to block their planned purchase of the Croatian assets through a joint venture called Duna-Dráva Cement. The commission acknowledged the court's ruling in a statement Monday and said it confirms the geographic markets laid out in its case, which accounted for transportation costs and concerns about supply shortages.
"On this basis, the...
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