Mergers: EU Commission clears Aurubis' acquisition of Metallo
The European Commission has approved, under the EU Merger Regulation, Aurubis' acquisition of Metallo, a large copper scrap refiner. The Commission concluded that the merger would not adversely affect competition in the European Economic Areaor any substantial part of it.
Executive Vice-President Margarethe Vestager, in charge of competition policy, said: “Copper is an important input needed for electric mobility and digitisation. A well-functioning circular economy in copper is important to ensure a sustainable usage of resources in the context of the European Green Deal. This is why we carried out an in-depth investigation of the merger between Aurubis and Metallo. We initially raised concerns about the transaction and looked into it carefully. Our investigation brought sufficient elements to conclude competition in the copper recycling sector will not be negatively affected by the merger of Aurubis and Metallo.”
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