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EU To Approve Aurubis’ Takeover

By  |  April 28, 2020

Aurubis agreed in May 2019 to buy Metallo as part of an acquisition-led expansion into other metals. Metallo processes about 220,000 tonnes of scrap and recycling materials a year at its Beerse plant in Belgium and another 95,000 tonnes at its plant in Berango, Spain. 

According to Reuters, some of Metallo’s assets in Spain and Belgium are likely to be divested as part of concessions offered in February to address the European Commission’s concerns about the deal, one of the people said. It is not clear if EU competition enforcers accepted the offer in its entirety or in a revised form. 

Aurubis said it “did not offer any Metallo assets or any Aurubis assets.” 

“We still believe that the merger should be cleared unconditionally. Due to the extension we expect the final decision early May,” the company said. Aurubis agreed in May 2019 to buy Metallo as part of an acquisition-led expansion into other metals.

Full Content: Reuters

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