A PYMNTS Company

EU: EC approves the acquisition of Cattierite Holdings by Umicore

By  |  November 26, 2019

The European Commission has approved, under the EU Merger Regulation, the acquisition of Cattierite Holdings Coöperatief of the Netherlands by Umicore of Belgium. Cattierite is a holding company that indirectly owns and controls Freeport Cobalt (FCO) of Finland. 

FCO is active in cobalt refining and the production of refined cobalt materials for battery applications. Umicore is a global metals technology and recycling group active in the production of a cathode materials for rechargeable lithium-ion batteries used in portable electronics and electric vehicles. 

The Commission concluded that the proposed acquisition would raise no competition concerns because of the companies’ limited market presence at all levels of the value chain. The transaction was examined under the normal merger review procedure.

Full Content: Europa

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.